Examlex
What is the principal cation of the ECF?
Budget Constraint
A financial limitation that represents the combination of goods and services a consumer can afford with their available income.
Monthly Income
The total income received every month from all sources including salaries, benefits, and investments.
Purchase Bundle
A combination of goods and services that a consumer buys at a given time.
Budget Constraint
Refers to the limitations on the consumption choices of individuals based on their income and the prices of goods and services.
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