Budget Constraint

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Budget Constraint

The goods and services an individual is able to purchase over a given period of time at his/her current income. A budget constraint may be represented on a chart according to the following equation:

Pxx + Pyy = m

Px is how much a good costs;

x is the quantity of that good one purchases;

Py is the price of all other goods and services;

y is the quantity of all other goods; and

m is the amount of money one has allocated for consumption.
References in periodicals archive ?
The successful tenderer must have the ability to understand the budgetary constraints of an established festival in the current economic climate while building on the strong partnerships and collaboration to date.
The effect of budgetary constraints cannot be over emphasized in public institutions of which the library is inclusive.
London, May 25 ( ANI ): Nicole Kidman has revealed that she had to do her own hair and makeup due to budgetary constraints for her new movie 'The Paperboy', and took photos in "provocative positions" and texted it to the film's director Lee Daniels.
Half of these (51 per cent) cited budgetary constraints as the reason for the closure, with just over two in five (43 per cent) saying it was down to poor student attendance.
We have notified the festival that owing to budgetary constraints, we would like them to apply for funding through the grant schemes funded through the proceeds of the National Lottery, rather than that provided by the Welsh Assembly Government.
Located midway between the extension's route from Times Square to 34th Street and 11th Avenue, the station was planned to provide riders with better accessibility to the far West Side but won't be included as part of the extension project because of budgetary constraints.
The Anglican Church of Canada has declined a request to increase its annual grant to the Anglican Consultative Council (ACC), citing budgetary constraints.
All the actors are strong, especially Sally Hawkins and Elaine Cassidy as the lesbian lovers, even if the production's budgetary constraints show in spots: A teeming London slum boils down to a klatch of extras.
The study reports that advances will be fueled by a continuing recovery in economic activity, which will loosen budgetary constraints for cleaning equipment.
A section of the compound's North Facility - one of at least three sections at Pitchess closed in recent years because of budgetary constraints - was reopened in February, followed by the reopening of the second floor of the East Facility - totaling six inmate dorms - last month, Rodriguez said.
To do otherwise would devalue the Charter because there are always budgetary constraints and there are always other pressing government priorities.
The ruling said the courts will "continue to look with strong skepticism at attempts to justify infringements of charter rights on the basis of budgetary constraints.