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3.5.2 Budget balance, surplus and deficit
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The budget position

The budget position

A government budget compares its revenue, mainly from taxes and other receipts, with its spending over one financial year. In the UK, a financial year runs from April to the following March.

3.5.2 Budget balance, surplus and deficit Lesson

  1. GCSE
  2. /Economics
  3. /3.5.2 Budget balance, surplus and deficit

Step-by-step lessons on OCR GCSE Economics 3.5.2 Budget balance, surplus and deficit. Each one builds up to exam-style questions. Build a solid grasp of supply and demand and cost/revenue calculations before tackling the evaluation-heavy policy topics.

Lessons