CUET CUET Economics 2024 - According to the Theory of Consumer Behaviour, P_1X_1 + P_2X_2 ≤ M is called the Consumer's _____________ | PYQs + Solutions | AfterBoards
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CUET Economics 2024

Economics
>
Consumer Behaviour & Demand

Hard

According to the Theory of Consumer Behaviour, P1X1+P2X2≤MP_1X_1 + P_2X_2 ≤ M is called the Consumer's _____________

Correct Option: 3
    \newline
  1. Option 1: budget -> just money
    2. \newline
  2. Option 2: budget set -> all options
    3. \newline
  3. Option 3: budget constraint -> limit on money
    4. \newline
  4. Option 4: budget behaviour -> how consumer acts
Correct answer is Option 3: budget constraint.

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