Meaning of Balanced Budget - SS2 Economics Past Questions and Answers - page 1

(A balanced budget is considered a positive financial situation because it helps to ensure financial stability and sustainability. This implies that the exact revenue derived is allocated to spend on a similar amount of expenses, ensuring that there is no instability in terms of income, price and employment of labour and resources)

A balanced budget is a situation where expenses are equal to or less than the income or revenue generated within a specific period.