A Budget Is a

question 40

Multiple Choice

A budget is a

• A)list of expenditures for a year.
• B)commitment to better staff salaries.
• C)statement of goals in financial terms.
• D)simple method of controlling expenses.

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Definitions:

Declining Industry

An industry experiencing a long-term drop in output, sales, or employment.

Lagging Technology

Technology that is behind the current standard or trend, often outdated or rendered obsolete by new innovations.

Inelastic Nature

A characteristic of a good or service whose demand does not significantly change with the price.

Agricultural Demand

The total demand for agricultural products, influenced by factors such as population growth, income levels, and dietary preferences.