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chapter 2
expenditure
| Question | Answer |
|---|---|
| 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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