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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 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.
See also: United States budget process, Canadian federal budget
As an adjective, budget means that something is low-priced so that people who are spending their money carefully, being on a tight budget, can buy the item instead of a more expensive form of the item. One example would be the car rental firm known as "Budget Rent-A-Car". Budget items, aside from being of less luxurious quality, are often reduced in packaging (or in design features that display social prestige rather than utilitarian function) in order to cut costs.
budget is basically a plan for the upcoming year's expenditures and revenues. it shows how much the goverment would collect from the citizens and corporations and how much they will spend to satisfy their citizens and the corporations as well. the basic idea of budget is to benefit most people possible.
See also: pruning, budget deficit, budget surplus, budget crisis
politics
