Balanced and unbalanced budget (I)

Economics SSS 2 Third Term


Balanced and unbalanced budget (I)

Performance Objectives

Student should be able to:

  1. Explain the concept of budget deficit.
  2. Define budget surplus.
  3. Explain balanced budget.


Definition of Budget

A budget refers to a financial statement of the total estimated revenue and the proposed expenditure of a government in a given period, usually a year.

Importance or uses of Budget

  1. Allocation of resources: Budget is usually used to allocate resources from one sector of the economy to another.
  2. Appraisal of government performance: Budget is used by the citizens and the international community to appraise the performance of the government.
  3. To foster economic.... View More

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