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budget line in economics can be defined as a line which shows the various combinations of two products that can be bought in a fixed or given income.the budget lie graph is a downward sloping line whose gradient shows the ratio between the prices of two goods X and Y.there will be a parallel shift in the budget line due to an increase or decrease in income!points insyd the budget line are inefficient since income is saved and outside the line they become infeasible.
Wiki User
∙ 12y ago
Wiki User
∙ 15y agoThe budget line lets us examine how much of x and y a consumer can purchase with his imcome ( I/P)
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What is the Difference between economics and manegrial economics?
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