Board Definitions

Question 1

revenue

Answer 1

money that goes to the government (ie taxes)

Question 2

expenses

Answer 2

the services the government provides based on our revenue

Question 3

balanced budget

Answer 3

the revenue amount is the same as the expenses amount

Question 4

surplus budget

Answer 4

the revenue amount is greater than the expenses amount

Question 5

deficit budget

Answer 5

revenue is less than the expenses