BUDGET DEFICIT Definition

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BUDGET DEFICIT is usually the difference between government spending and revenue and thus the amount that needs to be borrowed. Definition varies between countries.

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CONTRACTOR is the person or entity who will provide the goods or services under the provisions of the contract.

OVERHEAD is the costs associated with providing and maintaining a manufacturing or working environment. For example: renting the building, heating and lighting the work area, supervision costs and maintenance of the facilities. Includes indirect labor and indirect material.

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