Balanced and Unbalanced budget

Overview

Explain the concepts of budget deficits budget surplus, balanced budget and the component of national debt. Explain the concept of and criteria for revenue allocation (including resource control) in Nigeria and associated problems.

Lesson details

Class: SS2
Subject: Economics
Theme: National Income And Public Finance
Duration: 30:12

What you'll learn

Meaning of balanced budget, reasons for balanced budget, meaning of surplus and deficit budget, ways of financing deficit budget and their effects (e.g. debt burden, debt relief, debt buy back )

Other lessons

Elements of National Income Accounting SS2 · Economics
Money: Inflation and deflation SS2 · Economics
Types and Features of Economic systems SS2 · Economics
Concept of Demand and Supply SS2 · Economics

Balanced and Unbalanced budget

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