Question

What is budget constraints

Answer 1

Answer:

In economics, a budget constraint represents all the combinations of goods and services that a consumer may purchase given current prices within his or her given income. Consumer theory uses the concepts of a budget constraint and a preference map as tools to examine the parameters of consumer choices .

Answer 2

Answer:

a economy budget constraints represent all the combination of good and services that a consumer May purchase given income consumer theory uses the concept of a budget constraints and a preference map as tool to examine parameters of consumer choices