What is price line in economics?Economics:Economics is a field of study that examines the relationship between goods and services and the economies they serve, whether it be their production, consumption or satisfaction, for instance.Answer and Explanation: ...
What is a government budget in economics?Government:The government is a major figure in a nation's economy. Governments regulate interest rates, the printing and minting of currency, regulates external trade, and a whole host of other important tasks....
A budget is a microeconomic concept that reveals the trade-off made when one good is exchanged for another. In terms of the bottom line—or the end result of this trade-off—asurplus budgetmeans profits are anticipated, abalanced budgetmeans revenues are expected to equal expenses, and adefici...
An indifference curve is a tool used in economics and business. Each point on the curve is a different combination of two goods in various quantities. Any point on the curve will theoretically provide equal satisfaction or utility to an individual. Consumers are thus "indifferent" to which combi...
There is, however, a clear benefit to students who choose to buy digital over hard copy textbooks, a small saving but something that cash-strapped students will welcome. Covid-19 In reality, measures in the budget will be overshadowed bydetailsof the government’s policy response to coronavirus...
"That's where budgeting really comes into play because if you're sticking to your budget, then you're working with the cash that you have," she says. Students who decide to use a credit card in college should be clear on what the interest rates are, what a credit score is and how ...
(a) What is a budget line ? What does the point on it indicate in terms of prices? (b) A consumer consumes x and y. Her money income is Rs.24 and the prices
Life-cycle theory is logical, doesn’t require a background in economics to understand, and applies to personal finance and global economic development alike. The basics of life-cycle theory Modigliani and Brumberg started with a concept of life resources: that is, the present value of all ...
Definition:TheBudget Line, also called asBudget Constraintshows all the combinations of two commodities that a consumer can afford at given market prices and within the particular income level. We know that the higher the indifference curve, the higher is the utility, and thus, utility maximizing...
In many ways, this can be considered a form of investment in the ongoing success and stability of our larger community, which is probably why we are wired to want to do it. The majority of people in the world don’t invest in financial assets; they are still on the consumption stage ...