Government Funding

Budget Deficit: This occurs when a government spends more than it earns in revenue. It's like if your family spent more on expenses than what they earned in income.

Fiscal Policy: This is the means by which a government adjusts its spending levels and tax rates to monitor and influence a nation's economy. It's similar to how parents might adjust their spending habits or seek additional income sources based on their financial situation.

Public Sector: The part of an economy that is controlled by national, state or provincial, and local governments. Imagine this as all the things your parents manage within your household - from paying bills to maintaining the house.