ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -A budget surplus is when income or revenue exceeds expenditures. Governments and companies with surpluses have additional money that can be reinvested or used to pay off debts. The opposite of a surplus is a deficit, which occurs when spending exceeds revenues.

Detailed explanation-2: -A surplus describes the amount of an asset or resource that exceeds the portion that’s actively utilized. A surplus can refer to a host of different items, including income, profits, capital, and goods.

Detailed explanation-3: -A budget surplus is when the government’s earnings are more than the spending. On the other hand, in a budget deficit, government spending is more than its income. It may happen when the government collects fewer taxes or starts spending more.

Detailed explanation-4: -What is a budget surplus and a budget deficit? A budget surplus is when extra money is left over in a budget after expenses are paid. A budget deficit occurs when the federal government spends more money that it collects in revenue.