A(n) ________ Budget Is One That Can Be Adjusted Over

question 68

Multiple Choice

A(n) ________ budget is one that can be adjusted over time for changing environmental conditions.

• A) operating
• B) incremental
• C) zero-based
• D) variable
• E) cash

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Definitions:

Equilibrium Price

The equilibrium price where goods supplied and goods demanded are in balance.

Price Floor

A government- or authority-imposed minimum price on goods or services, below which they cannot be sold, usually set to prevent market prices from falling too low.

Shortage

A scenario where the market demand for a service or product surpasses its available supply.

Surplus

An amount of something left over when requirements have been met; an excess of production or supply.