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

Theories of the firm, Define Williamson''s Model of Managerial Discretion p...

Define Williamson''s Model of Managerial Discretion practice?

Early theories about wage determination, Theories of wage determination ...

Theories of wage determination Early theories about wages The earliest theories about wage determination were those put forward by Thomas Malthus, David Ricardo and Karl

Assignment, analyze the method by which firm can allocate the given adverti...

analyze the method by which firm can allocate the given advertising budget between different media of advertisement

Functions of budget, Functions of the Budget The budget fulfils three ...

Functions of the Budget The budget fulfils three main functions: To raise revenue to meet government expenditure The government of a country provides certain se

Why do managers need to know economics?, Economics contributes a great deal...

Economics contributes a great deal with towards the performance of managerial duties and responsibilities. Just as biology donates to the medical profession and physics of engineer

Characteristics of the three stages of diminishing returns, CHARACTERISTICS...

CHARACTERISTICS OF THE THREE STAGES   Stage I Here the Total Physical Product, Average Physical Product and Marginal Physical Product are all increasing.  However MPP

Function and importance, explain the supply function and importance of supp...

explain the supply function and importance of supply analysis in brief

Stagflation, STAGFLATION The term stagflation is a recent arrival in ec...

STAGFLATION The term stagflation is a recent arrival in economic literature derived from joining together the stage of stagnation and flections of inflation. The term has been

What is the significance of managerial economics, Significance of manageria...

Significance of managerial economics Industrial and Business enterprises aim at earning maximum proceeds. In order to attain this objective, a managerial executive has to take

Corporate profit maximization , Difference between corporate profit maximiz...

Difference between corporate profit maximization and maximization of shareholder wealth? Ans) Sure, profit maximization relates to profits *only* while shareholder wealth also i

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