Economics GCSE
Budget surplus
What Budget surplus means in Economics GCSE, as defined for AQA.
Definitions of Budget surplus
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Reference: AQA
Occurs when government revenue is greater than government expenditure, and can be used to pay down national debt but might slow economic growth by withdrawing money from the circular flow.
A budget surplus occurs when government revenue exceeds government spending in a given financial year.
Topics that use Budget surplus
- Fiscal policy (AQA GCSE)
- Government income and expenditure (AQA GCSE)
Related terms
- Budget deficit
- Fiscal policy
- Government revenue
- National debt
- Balanced budget
- Budget balance
- Direct taxes
- Economic growth
Using Budget surplus in the exam
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