Commerce Exam > Commerce Videos > Economics Class 11 > Introduction to Budget Line
Introduction to Budget Line Video Lecture | Economics Class 11 - Commerce
|
75 videos|274 docs|46 tests
|
FAQs on Introduction to Budget Line Video Lecture - Economics Class 11 - Commerce
| 1. What is a budget line? |  |
Ans. A budget line represents the various combinations of two goods that a consumer can afford given their income and the prices of the goods. It shows the maximum quantity of one good that can be purchased when spending all income on two goods at their respective prices.
| 2. How is the budget line determined? | |
Ans. The budget line is determined by the consumer's income and the prices of the goods. The slope of the budget line is equal to the ratio of the prices of the two goods. The intercepts of the budget line on the horizontal and vertical axis represent the maximum quantity of each good that can be purchased with the given income.
| 3. What does a budget line's slope indicate? | |
Ans. The slope of a budget line indicates the rate at which one good can be exchanged for another. It represents the relative price of the two goods. If the slope is steeper, it means that the price of one good is relatively higher compared to the other.
| 4. How does a change in income affect the budget line? | |
Ans. A change in income affects the position of the budget line. If income increases, the budget line shifts outward, allowing the consumer to afford more of both goods. Conversely, a decrease in income shifts the budget line inward, reducing the quantity of goods that can be purchased.
| 5. Can the budget line shift due to changes in prices? | |
Ans. Yes, changes in prices can cause the budget line to shift. If the price of one good increases while the price of the other remains constant, the budget line becomes steeper, indicating that less of the expensive good can be purchased. Similarly, if the price of one good decreases, the budget line becomes flatter, allowing for more of that good to be purchased.
Related Exams
About this Video
|
4.84/5 Rating |
|
Nov 03, 2024 Last updated |
Video Description: Introduction to Budget Line for Commerce 2024 is part of Economics Class 11 preparation.
The notes and questions for Introduction to Budget Line have been prepared according to the Commerce exam syllabus.
Information about Introduction to Budget Line covers all important topics for Commerce 2024 Exam.
Find important definitions, questions, notes, meanings, examples, exercises and tests below for Introduction to Budget Line.
Introduction of Introduction to Budget Line in English is available as part of our Economics Class 11 for Commerce & Introduction to Budget Line in
Hindi for Economics Class 11 course. Download more important topics related with notes, lectures and mock test series for
Commerce Exam by signing up for free.
Description
Video Lecture & Questions for Introduction to Budget Line Video Lecture | Economics Class 11 - Commerce - Commerce full syllabus preparation | Free video for Commerce exam to prepare for Economics Class 11.
Information about Introduction to Budget Line
Here you can find the meaning of Introduction to Budget Line defined & explained in the simplest way possible.
Besides explaining types of Introduction to Budget Line theory, EduRev gives you an ample number of questions to practice Introduction to Budget Line tests,
examples and also practice Commerce tests.
|
75 videos|274 docs|46 tests
|
|
Explore Courses for Commerce exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
Related Searches
Exam
,MCQs
,Introduction to Budget Line Video Lecture | Economics Class 11 - Commerce
,Important questions
,Introduction to Budget Line Video Lecture | Economics Class 11 - Commerce
,Previous Year Questions with Solutions
,shortcuts and tricks
,study material
,Introduction to Budget Line Video Lecture | Economics Class 11 - Commerce
,Viva Questions
,past year papers
,practice quizzes
,Summary
,Extra Questions
,Semester Notes
,Sample Paper
,video lectures
,ppt
,Objective type Questions
,Free
,mock tests for examination
;
Study Introduction to Budget Line on the App
Students of Commerce can study Introduction to Budget Line alongwith tests & analysis from the EduRev app,
which will help them while preparing for their exam. Apart from the Introduction to Budget Line,
students can also utilize the EduRev App for other study materials such as previous year question papers, syllabus, important questions, etc.
The EduRev App will make your learning easier as you can access it from anywhere you want.
The content of Introduction to Budget Line is prepared as per the latest Commerce syllabus.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup