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BUDGET CONSTRAINT: The alternative combinations of two different goods that can be purchased with a given income and given prices of the two goods. This budget constraint, also termed budget line, plays a major role in the analysis of consumer demand using indifference curve analysis. Indifference curves represents the "willingness" aspect of consumer demand, the budget constraint captures the "ability". One key consumer demand topic is to analyze how consumer equilibrium is affected by changes in the price of one good. Then end result of this analysis is a demand curve. For more fascinating uses of the budget constraint and indifference curves, and consumer demand analysis, see income-consumption curve and price-consumption curve.

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BUYERS' INCOME, DEMAND DETERMINANT: The income that buyers have available to purchase a good, which is assumed constant when a demand curve is constructed. Buyers' income is one of five demand determinants that shift the demand curve when they change. The other four are buyers' preferences, other prices, buyers' expectations, and number of buyers.

     See also | demand determinants | buyers' preferences, demand determinant | other prices, demand determinant | buyers' expectations, demand determinant | number of buyers, demand determinant | normal good | inferior good | supply determinants | demand | market demand | demand price | quantity demanded | law of demand | demand curve | change in demand | change in quantity demanded | ceteris paribus | Marshallian cross | comparative statics | competition | competitive market | market | consumer surplus |


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BUYERS' INCOME, DEMAND DETERMINANT, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2018. [Accessed: July 20, 2018].


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FEDERAL RESERVE DISTRICTS

The 12 geographic areas of the United States that form the administrative division of the Federal Reserve System. Each of the 12 Districts is headed by a Federal Reserve District Bank and is generally designated by the Reserve Bank City--Boston, New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, St. Louis, Minneapolis, Kansas City, Dallas, and San Francisco. Federal Reserve Branch Banks are located in 10 of the 12 Districts.

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