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Questions from a beginner

My budget is unknown right now, still looking for a 5 string bass thats right for me.

Once I find the bass I want for a good price, then I will set up a budget.

One thing to remember is that a low cost bass bass that is well constructed can always be modified as well. If you find one that you like the feel of or that can be setup decently then the hardware and electronics can always be upgraded later and you'll have a good bass that will still have cost less than a high end instrument.
 
In my opinion, Peavey Millennium's are great, especially for the money. I started with a 4-string Peavey millennium AC bxp and 5-strings of the same are available.

Batteries generally power an active preamp. In this situation you would have, for example, volume, pickup blend, and a 3-band eq (bass, mid, and treble) on your bass. A passive bass (no batteries) would generally only have vol and tone controls, depending on the bass.

EDIT: Batteries/active preamps or pickups generally have a boosted signal compared to a passive bass.