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

Marris model, what is objective

what is objective

Calculate maximize total revenue, A city has two newspapers. Demand for eit...

A city has two newspapers. Demand for either paper depends on its own price and the price of its rival. Demand functions for paper A & B respectively, measured in tens of thousands

Marginal cost, A firm in a perfectly competitive market invents a new situa...

A firm in a perfectly competitive market invents a new situation of production that lowers its marginal costs. What happens to its output? What happens to the price it charges?

fiscal policy, What do you mean by the fiscal policy? What are the instrum...

What do you mean by the fiscal policy? What are the instruments of fiscal policy? Briefly comment on India's fiscal policy.

Relationship between mr and elasticity, Suppose that the price elasticity o...

Suppose that the price elasticity of demand for cereal is -0.75 and the cross-price elasticity of demand between cereal and the price of milk is -0.9. If the price of milk rises by

Income elasticity of demand, Aside from the price of a product and its subs...

Aside from the price of a product and its substitutes, another significant element of demand for a product is consumer's income. As noticed previously, relationship between demand

Eceonomic therios, Ask questiHow does economic theory contribute to manager...

Ask questiHow does economic theory contribute to managerial decisions? on #Minimum 100 words accepted#

Circular flow of income and expenditure, The Circular Flow of Income and Ex...

The Circular Flow of Income and Expenditure This is an economic model illustrating the flow of payments and receipts between domestic firms and domestic households. The househo

Contributions of economic theory to business economics, Contributions of ec...

Contributions of economic theory to business economics According to Baumol, there are 3 key contributions of economic theory to business economics. 1. Practice of building

Current account, The Current Account This records all transactions inv...

The Current Account This records all transactions involving the exchange of currently produced goods and services and is subdivided into i. Visibles: A record

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages