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Can anyone tell me what the following words mean - foreign trade fiscal deficit revenue deficit |
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Answer» Trade: The exchange of commodities from one country to the other. The only difference is the people PARTICIPATING in the exchange live in 2 different countries.Fiscal deficit: This is the difference between the governments' expenditure and its' revenues.This is usually communicated as as a % of its' GDP (gross DOMESTIC product) Revenue deficit: This happens when the govt's ACTUAL NET receipts are lower than the projected receipts. DON'T confuse this with actual LOSS of revenue.If you found this helpful please mark it as the best answer :) |
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