ECONOMICS
BUDGETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A movie ticket
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A concert ticket
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A credit card bill
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A bill amount that stays the same every month
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Detailed explanation-1: -A fixed expense is a bill that doesn’t change from month to month. Your monthly mortgage payment, insurance premiums, and childcare costs are examples of fixed expenses. Fixed expenses can occur weekly, monthly, quarterly, or annually. Variable expenses change from month to month, depending on usage.
Detailed explanation-2: -Fixed expenses generally cost the same amount each month (such as rent, mortgage payments, or car payments), while variable expenses change from month to month (dining out, medical expenses, groceries, or anything you buy from a store).
Detailed explanation-3: -Fixed Expenses These are the expenses you have that don’t change month-to-month. Your mortgage or rent, car payment, and insurance are examples of fixed expenses.
Detailed explanation-4: -Fixed expenses: These are costs that largely remain constant, such as your monthly rent or mortgage. Variable expenses: These are costs that vary or are unpredictable, such as dining out or car repairs.
Detailed explanation-5: -Examples of Fixed Expenses Mortgage or rent payments. Loan payments, such as auto loans or student loans. Insurance premiums, such as for car insurance and homeowners insurance. Property taxes.