Budget

From open-encyclopedia.com - the free encyclopedia.

Budget generally refers to a list of all planned expenses. A budget is an important concept in microeconomics, which uses a budget line to illustrate the trade-offs between two or more goods.

The budget of a government is a summary or plan of the intended revenues and expenditures of that government. In some countries, such as the United States, the budget is mainly prepared by the legislature, in others it is prepared by the government. In the UK the budget is prepared by the Chancellor of the Exchequer, the second most important member of the government, and must be passed by Parliament.

As an adjective, budget is used in marketing as a euphemism for cheap.

See also:

• pruning
• budget deficit
• budget surplus
• budget crisis

• Chancellor of the Exchequer (UK budget)
• United States budget process
• Canadian federal budget

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