ECONOMICS
BUDGETING
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
fixed expense
|
|
|
expected expense
|
|
|
unexpected expense
|
|
|
variable expense
|
Detailed explanation-1: -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-2: -Variable costs are costs that change as the volume changes. Examples of variable costs are raw materials, piece-rate labor, production supplies, commissions, delivery costs, packaging supplies, and credit card fees.
Detailed explanation-3: -Health, disability or life insurance premiums. Property taxes. Childcare expenses. Student loan or car loan payments.
Detailed explanation-4: -Here are the USDA weekly grocery spending guidelines for households with one adult female and one adult male: Thrifty: $119.40. Low-cost: $122.90. Moderate-cost: $152.30.