ECONOMICS
MONEY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Clothing, personal care, entertainment, and medicine are ____ items in a budget
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Fixed
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Variable
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Either A or B
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None of the above
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Explanation:
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). TIP.
Detailed explanation-2: -Examples of Variable Expenses Some examples of variable costs include: Food costs, such as groceries and dining out. Clothing.
Detailed explanation-3: -Examples of variable expenses Common variable expenses include: Groceries and dining out. Clothing. Personal care.
Detailed explanation-4: -Personal Spending (5-10 percent) Personal spending includes things like: gym memberships. clothes and shoes.
There is 1 question to complete.