In economics, a budget set, or the opportunity set facing a consumer, is the set of all possible consumption bundles that the consumer can afford taking as given the prices of commodities available to the consumer and the consumer's income, also known as consumption plans which should not exceed the income,, the budget set is defined as

1. ,

is also known as the Walrasian, or competitive, budget set.

-dimensional budget hyperplane, which in the two-good case corresponds to the budget line that contains all the consumption bundles that lie on or below the budget hyperplane.

Given the framework described above, Walrasian budget sets are convex and compact.

Other sources of wealth, including stocks, savings, pensions, profit shares, etc., are not included in the income described above. The income described above are also known as initial wealth.

is the set that the consumer chooses to go with based on the preferences from the budget set.

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