ECONOMICS
MONEY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Bills and Discretionary Income
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Fixed and Random Expenses
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Bills and Random Expenses
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Fixed and Variable Expenses
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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: -Some of the most common types of variable costs include labor, utility expenses, commissions, and raw materials. Fixed costs, on the other hand, are any expenses that remain the same no matter how much a company produces.
Detailed explanation-3: -Examples of fixed costs include rent, taxes, and insurance. Examples of variable costs include credit card fees, direct labor, and commission.
Detailed explanation-4: -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-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.