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What is an example of macroeconomics?
tightening the family budget
What are the effects of the global economy on the family?
Start with definition of 'The Economy". Economics is defined as "The Management of the Scarcity of Resources." Prepare for Scarce Resources.
Economic scarcity refers to what?
Choices of scarcity Scarcity forces a choice among other alternatives, everyone faces scarcity at some point in time, as most person income does not allow them to buy everything they would like to obtain so this forces them to make a budget to decide how much of what goods to buy. With scarcity choices are always a factor as it involves giving up one thing to again another, for example, you wanted to take a vacation with your family which would cost you US$1000 with this US$1000 you could also do some well needed work the roof of your for the hurricane season which is coming up. What did the vacation really cost? Some might say just US$1000 but in reality it really cost you a well needed repair that should have been done to your house which would be available for years to come for the family to inherit and enjoy, which is called Opportunity Cost the cost of foregone alternatives. Time also plays a major role in the economy's society as in scarcity and choice, and also opportunity cost. As time is not always available and scarcity is considered when the amount of a good is not being supplied to meet the demand, as it is often based on an idea that goods are often times limited in the supply, which can be managed through making choices regarding value for exchange. If a persons spends eight hours each day working, the opportunity gained is more work experience and knowledge you gained if you had spent the same eight hours each day sitting with friends drinking and watching movies.
What is significance of budget?
For GovernmentIn case of an annual budget of a nation, budgeting is all about making a blueprint of the overall funds that the concerned government will spend on various sectors, the kinds of taxes that would be levied and how the prices of essential commodities would increase or decrease in the months ahead. Like any other budget, a government budget too relies on revenues and expenses. While the revenues are generated from the various taxes imposed, expenses usually include the expenditure amount on goods and services, consumption, investments, retirement benefits, and so on. In the absence of a good budget, the government officials will have to struggle hard in developing processes for the same.For FamilyThe safety and security is the foremost concern for a family. Hence, planning a personal family budget is highly significant. Budgeting in a family is simply done by streamlining the expenses of every family member in accordance to the overall funds collected by the earning members of the family. While some people believe the budget to be a complicated matter of numbers and accounting practices, others assume planning the budget to prevent them from unforeseen problems, downfalls and financial losses. The major issue that comes forward with planning a family budget is that it limits the control of a person over his/her money. However, the fact is that budget does not restrict anyone. It, instead, only guides people towards the allocation of money in different sectors, such as food, shelter, clothing, household expenses, medical care, utilities, etc. on a monthly basis.For Business OrganizationsBusiness organizations have a strong reason for planning a budget. It helps them in planning targets for the future, in terms of laying figures that the organization plans to achieve. It is of no use to plan a budget with a host of high figures that is practically unachievable. Similarly, a budget that is too easy to achieve is also pointless as the business would then not be making enough progress that it should. Hence, a good budget is one that is achievable in reality with the motive of striving for the highest profits. While most budgets are planned annually, some can be set for a prolonged period as well. To put the budget into action, it should be prepared well in advance before the commencement of the financial year.
How do you cope up with loss of economic support in the family?
By begining to plan your budget, or if you already do that, plan it in such a way that the current economical income will suffice. If that is impossible, then you dont cope.
What was the Production Budget for DysFunkTional Family?
The Production Budget for The Family was $30,000,000.
What is family budget?
it is a family
What was the Production Budget for The Family Man?
The Production Budget for The Family Man was $60,000,000.
What was the Production Budget for The Family Stone?
The Production Budget for The Family Stone was $18,000,000.
What was the Production Budget for The Addams Family?
The Production Budget for The Addams Family was $30,000,000.
What was the Production Budget for The Perez Family?
The Production Budget for The Perez Family was $11,000,000.
What values does a budget have for a family planning it's financial affairs?
what values does a budget have for a family
What was the Production Budget for Johnson Family Vacation?
The Production Budget for Johnson Family Vacation was $12,000,000.
What was the Production Budget for Madea's Family Reunion?
The Production Budget for Madea's Family Reunion was $10,000,000.
What is misappropriation of family food budget?
misappropriation of family food budget is the unauthorized use of food likeness, or wastage of food, bad quality of preparation of family food budget resulting to harm and poor diet .
What is the best way to budget your family to save money?
A family budget will vary from family to family. The best recommendation is to speak with a financial planner at your local bank or financial institution - there is no easy answer.
What are the different components of a family budget?
A family budget generally reflects the family's income as well as the family's fixed and variable expenses. The fixed expenses will include food, rent and transportation costs.
