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What is a budget line and how is it useful in reaching consumer equilibrium?
it is a line showing all possible combinations of two goods(goods-1 and good-2) which a consumer can buy with his given money income and the price of the goods prevailing in the market.anywhere on the budget line the consumer spends his entire income on either good1 or good2 or both the goods. each point on the budget line indicates the different combinations of good1 and good2 which a consumer can buy with his income. in indifference curve analysis consumer attains his equilibrium when the slope of price line/budget line is equal to the slope of indifference curve.equilibrium is attained at that point where ic curve is tangent to the price line.....
When is a budget useful?
Budget is useful when you are running out of money and have to cut spending.
How research useful in the economics?
Research is useful in economics to know the need of the consumer.
The most useful budget figures are developed by?
Figures relating to a budget that are developed from the "bottom-up" following a participatory process are going to be the most useful.
Which best explains why a budget is useful?
A budget is useful because it helps individuals or organizations plan and allocate their resources effectively, ensuring that income is appropriately matched with expenses. It promotes financial discipline by setting spending limits, which can prevent overspending and encourage saving. Additionally, a budget provides a clear overview of financial health, allowing for better decision-making and goal-setting. Ultimately, it serves as a roadmap for achieving financial stability and reaching long-term objectives.
A budget is useful only if you?
Apply it and monitor its purpose on a regular basis
What do you get from rocks?
Valuable minerals, useful material, and eventually consumer products.
What does Christian Consumer Credit Counseling provide?
It is a process that involves offering education to consumers about how to avoid incurring debts that cannot be repaid through establishing an effective Debt Management Plan and Budget.
What best explains why a budget is useful?
Budgets help people reach their financial goals.
Where can one find consumer reviews for the company called Buyowner?
One can find consumer reviews for the company called Buyowner online. Some of the useful websites are My Three Cents, Pissed Consumer and Ripoff Report.
What is good invention someone should invent?
A good invention is something that is very useful and needed by the consumer. Advancements in older inventions are always useful as well.
Why is the CPI a useful took for economists and business?
The CPI (consumer price index) is useful because it allows observation of the rate of inflation in a given economic region.
