WORLD HISTORY

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.

Detailed explanation-2: -A surplus budget is a condition when incomes or receipts overreach costs or outlays (expenditures). A surplus budget normally refers to the financial conditions of the governments. However, individuals choose to use the term ‘savings’ rather than ‘budget surplus.

Detailed explanation-3: -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. A budget surplus is more beneficial to a government.

Detailed explanation-4: -A surplus occurs when there is some sort of disconnect between supply and demand for a product, or when some people are willing to pay more for a product than others.

Detailed explanation-5: -Budget deficits are a negative balance between a government’s spending and revenues. When a government spends more than it collects in tax revenues, there is a deficit. Conversely, if there is more collected than spent, there is a surplus.

Detailed explanation-6: -Consumer surplus – When a consumer’s marginal utility exceeds the price. Producer surplus – When a firm receives a price in excess of the price it would be willing to supply at. Budget surplus – When revenue exceeds expenditure. 05-Nov-2021