Budget - A financial plan that shows how much money a person or government expects to earn (income) and how much they expect to spend (expenses)., Government - The group of elected leaders who make laws, collect taxes, and decide how money will be spent to support the country. The group of people who make rules and laws for a country, state, or town to keep it organized and safe, Economy - The system a country or region uses to make, trade, and use goods and services to meet the needs of its people., Tax  - Money that a person or business receives, usually from working, owning a business, or investments. Money that people and businesses must pay to the government so it can provide services like schools, hospitals, roads, and public transport., Income - Money that a person or business receives, usually from working, owning a business, or investments., Expense  - Money that a person or government spends to buy goods or services, Surplus - When the government or a person has more income than expenses., Deficit - When the government or a person has more expenses than income.,

Year 8 Humanities W8L1

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