National Budget Flashcards
1
Q
National budget definition
A
Annual written plan of goverment revenue and expenditure for coming year to help achieve goals
2
Q
Current expenditure definition
A
Money spent by the government on regular basis day to day spending e.g healthcare
3
Q
Name an increase from current expenditure in 2024 budget
A
More money for social welfare e.g pension
4
Q
Opportunity cost from national budget
A
Less money for healthcare e.g new hospital
5
Q
Budget surplus definition
A
When government revenue greater than expenditure
6
Q
Budget deficit definition
A
Giver time expenditure less than revenue
