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 ?
Manoj Kumar, who works as a manager at the library complained of the budgetary constraint, which was the main hindrance in the upkeep of this library.
Further, it should not put other development projects under budgetary constraints as the K-P government has been spending relatively more on education and improvement of law and order in the province and focusing on other development projects as well.
She said even though her ministry appreciated the high demand to increase Ipelegeng quotas countrywide, due to budgetary constraints her ministry had no plans to increase the Ipelegeng quota during the 2018/19 financial year.
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.
It points out that most of the EU countries find themselves in an excessive deficit procedure and that the budget will "more than ever" have to take into account "economic and budgetary constraints at national level".
The 350-plus delegates to General Synod 2007 have been told that the meeting, which will be one day shorter than previous synods owing to budgetary constraints, will be "crowded.
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.
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.