A budget constraint:
A) is the same across all individuals with the same income constraints.
B) is different for each individual with the same income constraints.
C) is the same across all individuals with the same tastes and preferences.
D) is different for each individual with the same tastes and preferences.

Question

Quizplus · Accepted Answer

A budget constraint is the limit on the amount of money an individual can spent on goods and services, given their income. Therefore, it is the same across all individuals with the same income constraints.

A Budget Constraint