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

International trade, INTERNATIONAL TRADE Definition It is the exc...

INTERNATIONAL TRADE Definition It is the exchange of goods and services between one country and another.  International Trade can be in goods, termed visibles or in servi

Why managers need to know economics, WHY MANAGERS NEED TO KNOW ECONOMICS ...

WHY MANAGERS NEED TO KNOW ECONOMICS The influence of economics towards the performance of managerial duties and responsibilities is of major importance. The importance and cont

What is external diseconomies, Q. What is External Diseconomies? The ex...

Q. What is External Diseconomies? The expansion of an industry is likely to generate external diseconomies that raise the cost of production. An increase in the size of industr

Demand forecasting, what is the importance of demand forecasting to manager...

what is the importance of demand forecasting to managers

Economic cost, The economic cost Unemployment represents a terrible wa...

The economic cost Unemployment represents a terrible waste of resources and means that the economy is producing a lower rate of output than it could do if there were full empl

Oligopoly , why firms under oligopoly market should follow price rigidity...

why firms under oligopoly market should follow price rigidity?

Permanent income hypothesis, What is the Permanent Income Hypothesis? What ...

What is the Permanent Income Hypothesis? What is the theory's potential relevance for assessing the effects of temporary tax cuts for the purpose of fiscal stimulus? If you were

Describe MRPL and profit maximisation, Q. Describe MRPL and profit maximisa...

Q. Describe MRPL and profit maximisation? The common rule is that firm maximises profit by producing that quantity of output where marginal revenue equals marginal costs. Profi

Impact of inflation, THE IMPACT OF INFLATION Inflation has different e...

THE IMPACT OF INFLATION Inflation has different effects on different economic activities on both micro and macro levels.  Some of these problems are considered below: i.

Real rigidities in the credit market, Real Rigidities in the Credit Market ...

Real Rigidities in the Credit Market How imperfections in the goods markets enable firms  to  set  prices  so  as to  generate  price  rigidities,  e.g.,  because of countercy

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