Concept
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Created by Boundless
Applications of Principles on Consumer Choices
![Income Effects on Consumption and Budget Constraints](../../../../../../../../../figures.boundless-cdn.com/20291/raw/traint-choice-income-shift.jpg)
Income Effects on Consumption and Budget Constraints
This graphical representation of a consumers income(I) and budget constraints (BC) underlines the variance in quantity of 'Good X' and 'Good Y' that will be demanded dependent upon income circumstance. Naturally, a higher income will result in a shift towards increase in quantity for many consumable goods/services.
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