INTRODUCTION TO ENTREPRENEURSHIP
DEFINITION OF ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The amount you earn in income.
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All of these items are included in a balanced budget.
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The amount you pay in taxes.
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The amount to put away in savings.
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Detailed explanation-1: -The amount you earn in income. The amount you pay in taxes. The amount to put away in savings. All of these items are included in a balanced budget.
Detailed explanation-2: -The three types of budgets are a surplus budget, a balanced budget, and a deficit budget.
Detailed explanation-3: -A balanced budget occurs when your income is equal to or greater than your expenses. Balanced budgets are important because they help you minimize debt and live within your means. Many countries also use a balanced budget to help maintain a healthy economy and prevent their debt from growing too large.
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. Q. A government budget should not always be balanced.
Detailed explanation-5: -Review financial reports. Compare actual values to last year’s budget. Create a financial forecast. Identify expenses. Estimate revenue. Subtract projected expenses from estimated revenues. Lock budget, measure progress and adjust as needed. 03-Feb-2023