Bitesize Business English #20: Budget

The video tutorial explains the concept of a budget as a financial plan detailing expected income and expenses. It discusses working within budget constraints, the implications of being on a tight budget, and how products or services can be described as budget-friendly, meaning they are affordable or cheap.

What is the primary purpose of a budget?

• To calculate taxes

• To save money for future use

• To track daily expenses

• To plan expected income and expenses

What does it mean when a company says it is working within budget restraints?

• They are planning to increase their budget

• They are adhering to a financial plan with limited resources

• They are operating without a financial plan

• They have unlimited funds

What does it mean to be on a tight budget?

• Having a lot of extra money to spend

• Having a flexible spending plan

• Having limited funds with little room for error

• Having no financial plan at all

How might someone describe a product that is considered budget?

• Expensive

• High-end

• Affordable

• Luxury

What does a budget holiday imply?

• A luxurious vacation

• An expensive trip

• A cost-effective vacation

• A spontaneous trip