Difference between a static budget and a flexible budget, Managerial Economics

Assignment Help:

1.  What is the difference between a static (master) budget and a flexible budget?

Ans:  static budget is where a budget doesn't change a volume changes.  An example could be that if the budget started out at $300,000, yet sales were $500,000, the budget would remain at $300,000.  A flexible budget would adjust for changes in activity and volume either via an increase or decrease in price.


Related Discussions:- Difference between a static budget and a flexible budget

Managerial Economics, Calculate point elasticity of demand for demand funct...

Calculate point elasticity of demand for demand function Q=10-2p for decrease in price from Rs 3 to Rs 2

Indifference curve, Case study for consumer behavior using indifference cur...

Case study for consumer behavior using indifference curev

Wood planks producer show in the market, ChoppinAxe is a little Swedish fi...

ChoppinAxe is a little Swedish firm that produces wood planks and operates in a perfectly competitive market. Each firm in the market has the following total cost function:

Explain the dilemma of the monetary agent, Problem 1: (a) Distinguish ...

Problem 1: (a) Distinguish between political and partisan monetary cycles on inflation and unemployment rates. (b) In the rule versus discretion literature, explain how dy

What kind of price discrimination, Imagine an amusement park with a sole at...

Imagine an amusement park with a sole attraction: a roller coaster. For simplicity, the cost of providing a ride is zero. There is a single consumer with demand for rides on the ro

Public sector borrowing requirement (psbr), PUBLIC SECTOR BORROWING REQUIRE...

PUBLIC SECTOR BORROWING REQUIREMENT (PSBR) Public Sector Borrowing Requirement (PSBR) is the amount which the government needs to borrow in any one year to finance an excess e

Show the properties of isoquants, Q. Show the Properties of isoquants? ...

Q. Show the Properties of isoquants? Isoquants slope downwards to the right:   It means that, in order to keep output constant; when amount of one factor is increased then the

Economic benefits, Singapore Airlines  is facing the possibility of a new c...

Singapore Airlines  is facing the possibility of a new competitor " Qantas " to enter the Singaporean market, especially in premium market, Singapore Airlines is dominant on the ma

In how costless bargaining will lead to a socially efficient, A firm can pr...

A firm can produce steel with or without a filter on its smokestack. If it produces without a filter, the external costs on the community are $500,000 per year. If it produces with

Market demand and consumers surplus, Market demand and consumers surplus ...

Market demand and consumers surplus Suppose that the market price of a cup of coffee is K£4 but the consumer was willing to pay £9 for the first unit, £8 for the second, £7 fo

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd