Hello, this is Venus from dictionary.com with this week's World Explore and this week's feature word is budget spelled b-u-d-g-e-t. Budget is derived from old French budgét, meaning "leather bag" and in English originally described a pouch or wallet and later its contents.
There’s also an archaic definition of a quantity of material especially written or printed. Formally the budget was literally a sack full of money with sums appropriated to specific purposes being sorted into little bags.
Only in 1733 it is recorded as meaning “statement” of the probable revenue and expenditure for the upcoming year. A budget is an important concept in microeconomics which illustrates the trade-offs with between two or more goods, or said differently, a budget is an organization plan stated in monetary terms.
There are corporate budgets which assess corporate financial plans for a coming period of time such as a quarter of a calendar year. Event budgets assist in calculating and meeting costs associated with an specific event. Government budgets like the name suggests are a projection of anticipated revenues and expenditures of a state, local or federal government.
I have a personal budget where I identify all my expenses such as rent utility bills, food and clothing; I balance these expenses with my income to make ends meet. My personal budget constraint restricts me from spending more than I make.
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BUDGET
1 comment:
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Greetings from Los Angeles.
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