Budget constraint

From CNM Wiki

Jump to: navigation, search

Budget constraint is a diagram that shows the possible choices.

Definition

According to Principles of Economics by Timothy Taylor (3rd edition),

Budget constraint. A diagram that shows the possible choices.

According to Macroeconomics by Mankiw (7th edition),

Budget constraint. The limit that income places on expenditure. (Cf. intertemporal budget constraint.)

Retrieved from "https://wiki.cnmcyber.com/w/index.php?title=Budget_constraint&oldid=50149"