8 Dec 2021
Problem 19
Page 44
Section: CRITICAL THINKING QUESTIONS
Chapter 2: Choice in a world of scarcity
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8 Dec 2021
Introduction
Budget constraint
A budget constraint may be a term employed in economics to explain all of the various combinations of products and services that a consumer should buy given current pricing and his or her money. The notions of a budget restriction and a preference map are employed in consumer theory to explore the scale of customer choices.
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