ECONOMICS
MONEY MANAGEMENT
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
are expenses that do not change each month.
|
|
|
are expenses that can go up and down each month.
|
|
|
are differences between planned and actual income or expenses.
|
|
|
describe how you will pay for achieving your personal goals.
|
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 don’t change from month to month, which makes it easier to know whether you have money to cover them. Variable expenses, on the other hand, can fluctuate.
Detailed explanation-4: -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-5: -Fixed costs are those costs that do not vary with changes in the level of output or business activity, such as rent and salaries. Variable costs are those costs that vary in direct proportion to changes in the level of output or business activity, such as materials, supplies, and wages.