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 ?
As budget constraints force governments to delay major new procurement programs, upgrades of current EW systems will be the larger revenue stream till 2018.
This implies that the "debt decentralization" reform has indeed been helping to harden the budget constraints of Chinese local governments.
Abstract This paper presents a model of soft budget constraints on firms where refinancing of poor projects is ex post inefficient when viewed in isolation, and analyzes how bank capital regulation affects the softness of firms' budget constraints.
Global Banking News-January 22, 2015--BofA head says security team has no budget constraints
Van Taylor, R-Plano, spent much of the session pushing for tighter budget constraints and tax cuts.
WASHINGTON, March 6 (KUNA) -- US Defense Secretary, Chuck Hagel, called his counterparts around the world, including those in Egypt and Saudi Arabia, to express his commitment to military cooperation despite the budget constraints in Washington.
Courthouse in Lakeland will cut back its hours of operation by a half hour due to budget constraints.
Despite a variety of challenges in addition to time and budget constraints, Greyhawk has managed to maintain its dedication to high quality and timely construction, bringing a total of 48 school projects to completion by their scheduled opening dates over the past four years in New Jersey.
Mission College has hungered for a winner since the school's athletic programs returned to competition four years ago after a five-year hiatus, the result of budget constraints.
The 215-pupil school has laid off one member of its teaching staff because of budget constraints.
However, it has not yet opened due to budget constraints, QCtimes.
Heading the list of matters for discussion were budget constraints and peace and security in Africa.