Question

difference between budget set and budget line?

Answer 1

A budget set includes all possible consumption bundles that someone can afford given the prices of goods and the person's income level.The budge set is bounded above the budget line.
A budget line constraint illustrates the alternative combination of two different goods that can be purchased with a given income based on the prices of two goods

Answer 2

Answer:

Budget line refers to graphical presentation of different combination of two goods that can be purchased from given income.

Budget set refers to different combination of two goods that is available for consumer from given income.