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chapter 2

expenditure

QuestionAnswer
what is meant by expenditure is the amount of money we spend during a particular period of time
what is fixed expenditurer & 3 examples every time you spend money it will stay the same .e.g. mortage, tv licence and car tax etc.
what is irregular expenditure & 3 examples every time you spend or use electricity the bill doesnt stay the same .e.g. telephone bills, groserys
what is discretionary expenditure is spending your money on something you dont need but you would like
what is impulse buying is buying something on the spur of the moment without thinking of the consequences
what is opportunity cost is buying something is the item we had to do without or the opportunity we had to forego
what is mortage a laon from a bank or building society to help someone buy a house
Created by: nicolehealy
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