Business English Reading Comprehension: Lockheed Martin Jet Funding

📚 Important Words to Know
defense contractor — a company that provides military equipment, services, or technology to a government
contract — a legally binding agreement between two parties specifying terms and obligations
procurement — the process by which a government or organization purchases goods, services, or works
cost overrun — when the actual cost of a project exceeds the budgeted or contracted amount
milestone payment — a payment made when a specific stage of a project is completed as agreed
subcontractor — a company hired by a main contractor to perform a specific part of a project
government budget — the financial plan of a national government, showing expected revenues and expenditures
lobbying — the act of attempting to influence government decisions, often by industry representatives
appropriation — an official authorization by a legislature to spend money for a specific purpose
export license — official authorization required to sell certain goods, especially military equipment, to foreign buyers