Examlex
Discuss the basic functions that budgets perform for a firm.
Firms
Business entities that produce goods or services, usually with the intention of selling them for a profit.
Opportunity Cost
The value of the best alternative forgone when a decision is made to use resources for a particular purpose.
Wage Increases
An upward adjustment in the amount of compensation employees receive for their work, often in response to inflation, productivity, or market demand.
Leisure
Time available for ease and relaxation where no work is done.
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