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

Objectives of icas, Objectives of ICAs Most schemes have as their main...

Objectives of ICAs Most schemes have as their main objective to stabilize and/or increase the world price of commodity, producers' incomes, foreign exchange earnings of export

Weapons of conflict, Weapons of Conflict The trade unions and the empl...

Weapons of Conflict The trade unions and the employers (or their associations) have many ways of enforcing their demands on each other. They include: Strikes: The stri

Foreign exchange markets, Foreign Exchange Markets It is the place whe...

Foreign Exchange Markets It is the place where buyers and sellers meet to negotiate the exchange of different currencies e.g. forex bureaus. Exchange Rates These are

#Profit as a business Objective, Write on one theory of profit. Profit as r...

Write on one theory of profit. Profit as rent of ability: one of the most widely known theories of profit was propounded by F.A. Walker. According to him profit is the rent of is t

Definition of monopoly, 1. Prof. Thomas "Generally the term Monopoly is use...

1. Prof. Thomas "Generally the term Monopoly is used to cover any effective price control, whether of demand or supply of services or goods; hardly it is used to mean a combination

Equilibrium income, Equilibrium Income In this model, aggregate desire...

Equilibrium Income In this model, aggregate desired expenditure has three components: Consumption, Investment and Government Expenditure:

Neo classical vs keynesian school, Neo Classical vs Keynesian School W...

Neo Classical vs Keynesian School We know that Keynesian economics was propounded as a revolution against the then prevailing orthodoxy of the classical school. In time,

Optimum combination, theory

theory

Determinants of money supply, DETERMINANTS OF MONEY SUPPLY The total su...

DETERMINANTS OF MONEY SUPPLY The total supply of nominal money in the economy is determined by the joint behaviour of the central bank which controls the total issue of the hig

#Demand function.., Calculate point elasticity of demand for demand functio...

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

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages