ENTREPRENEURSHIP

Detailed explanation-1: -Entrepreneurship examples can be startup companies like BYJU’S, Ola, Flipkart, etc, or it can be any small business that is started by an individual or a group of individuals. Also see: What is Entrepreneurship?

Detailed explanation-2: -Wages paid to workers however can vary as the number of workers increase or decrease. Hence it is not considered as a fixed cost.

Detailed explanation-3: -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-4: -If you spend money on things you want before things you need, you limit your ability to save for high-priced items, like higher education. A balanced budget typically includes the amount you earn income, the amount you pay in taxes, the amount you put away in savings.