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A budget line is a line showing the alternative combinations of any two goods that a consumer can afford at given prices for the goods and a given level of income.

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What is the definition of budget in economics?

A budget line is a line showing the alternative combinations of any two goods that a consumer can afford at given prices for the goods and a given level of income.


What is budgetline in economics?

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.


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