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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ECONOMIES OF SCALE is based upon the theory that the more you produce of a good, the less that it costs for each additional unit, i.e., efficiency. Specifically, it is the reduction of the costs of production of goods due to increasing the size of the producing entity and the share of the total market for the good/product.

ETHICS, in business, are moral and professional principles.

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