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Question
Give the equation of Budget Line.
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Solution
The equation of the budget line:
P1X1 + P2X2 = M
Where,
P1 - per unit price of Good 1
P2 - per unit price of Good 2
X1 - quantity of Good 1
X2 - quantity of Good 2
M - income of the consumer
RELATED QUESTIONS
State whether the following statement is True or False :
Budget is a monthly statement - False.
Fill in the blank with proper alternatives given in the bracket:
Budget is the _________________ of the revenue and expenditure of the coming year.
Write short notes (Any Two)
Revenue Receipts
State whether the following statements are True or False with reasons:
The expenditure is more than income in balanced budget.
Distinguish between:
Deficit budget and balanced budget
Which of the following points relates to surplus budget?
Find the odd word out:
Types of budget:
Identify the right group of pairs from the given options.
| Column I | Column II |
| i) Direct tax | a) Non-tax revenue |
| ii) Indirect tax | b) Inflation |
| iii) Fees and Fines | c) GST |
| iv) Surplus budget | d) Personal income tax |
Which of the following is NOT a type of government budget on the basis of balance?
A Balanced Budget is typically used in which situation?
The classification of budgets into Revenue Budget and Capital Budget is based on:
The classification of budgets into Union Budget and State Budget is based on:
The Plan Budget vs. Non-Plan Budget classification is based on:
A Balanced Budget is considered less effective during which of the following situations?
Why is a Surplus Budget NOT suitable during a recession?
A Deficit Budget is described as a key instrument of:
Which type of budget is associated with welfare state objectives?
