What are the reasons for change in budget line ?
please explain for 6 marks question ?
Moksh,
The reasons for a change in budget line are:
(i) Change in the money income of the consumer
(ii) Change in the price of any of the goods
This topic has been explained in detail in our study material under the topic 'Changes in the Budget Set'. Refer to the following link to view the same.
https://www.meritnation.com/cbse/class12-commerce/studymaterial/economics/introductory-microeconomics/theory-of-consumer-behaviour/338_1981_5804#slide1_Introduction to Consumer’s Budget: Budget Set, Budget Line, Changes in the Budget Line
The reasons for a change in budget line are:
(i) Change in the money income of the consumer
(ii) Change in the price of any of the goods
This topic has been explained in detail in our study material under the topic 'Changes in the Budget Set'. Refer to the following link to view the same.
https://www.meritnation.com/cbse/class12-commerce/studymaterial/economics/introductory-microeconomics/theory-of-consumer-behaviour/338_1981_5804#slide1_Introduction to Consumer’s Budget: Budget Set, Budget Line, Changes in the Budget Line