INTRODUCTION TO ENTREPRENEURSHIP
DEFINITION OF ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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When the amount you earn is equal or less than to the amount you spend.
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When the amount you spend is equal or less than the amount you earn
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When the amount you spend is greater than the amount you earn.
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When the amount you save is less than the amount you spend.
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Detailed explanation-1: -A budget is deemed a balanced one if the expected government expenses equal the estimated government receipts during a given financial year.
Detailed explanation-2: -A balanced budget occurs when revenues are equal to or greater than total expenses. A budget can be considered balanced after a full year of revenues and expenses have been incurred and recorded. Proponents of a balanced budget argue that budget deficits burden future generations with debt.
Detailed explanation-3: -A balanced budget (particularly that of a family) refers to a budget in which income is equal to its expenditures. Thus, neither a budget deficit nor a budget surplus exists (it accounts “balance"). More generally, it refers to a budget that has no budget deficit, but could possibly have a budget surplus.
Detailed explanation-4: -Not necessarily. A moderate fiscal deficit (around 3%) is found to be conducive to growth, when investment is low because of low AD.
Detailed explanation-5: -A balanced budget is when the government spends an amount equal to the amount it collects in taxes. A budget deficit is when the government spends more than it collects in taxes. A budget surplus is when the government collects more in taxes than it spends.