Program Budgeting

question 73

Multiple Choice

Program budgeting

• A) is similar to line item budgeting.
• B) relates budget performance to the achievement of objectives.
• C) develops qualitative performance criteria rather than quantitative criteria.
• D) focuses on inputs rather than outputs.

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Definitions:

Market Economy

An economic system where decisions regarding investment, production, and distribution are based on supply and demand, with little government intervention.

Market Equilibrium

A situation in which market supply equals market demand, so there is no incentive for price changes unless external conditions change.

Great Depression

A severe worldwide economic downturn during the 1930s, marked by prolonged unemployment, deflation, and significant declines in economic activity.

Economic Principle

Fundamental concepts that underpin the study and practice of economics, such as supply and demand or the cost-benefit analysis.