Explain the distinction between budget set and budget line.

1.	Explain the distinction between budget set and budget line.
Answer» <html><body><p></p>Solution :Budget <a href="https://interviewquestions.tuteehub.com/tag/set-11758" style="font-weight:bold;" target="_blank" title="Click to know more about SET">SET</a> refers to the set of <a href="https://interviewquestions.tuteehub.com/tag/possible-592355" style="font-weight:bold;" target="_blank" title="Click to know more about POSSIBLE">POSSIBLE</a> combination of the <a href="https://interviewquestions.tuteehub.com/tag/two-714195" style="font-weight:bold;" target="_blank" title="Click to know more about TWO">TWO</a> goods the consumer consume which he can afford from his income and given price, whereas budget line is the graphical <a href="https://interviewquestions.tuteehub.com/tag/presentation-1164065" style="font-weight:bold;" target="_blank" title="Click to know more about PRESENTATION">PRESENTATION</a> of the whole collection of the combination of the two goods which <a href="https://interviewquestions.tuteehub.com/tag/costs-25578" style="font-weight:bold;" target="_blank" title="Click to know more about COSTS">COSTS</a> the consumer exactly his income.</body></html>

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