ECONOMICS
SUPPLY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Irregular expenses that change from week to week or month to month
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The amount of money in your bank account
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Costs that do not fluctuate from week to week or month to month
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The amount of cash in your purse/wallet
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Detailed explanation-1: -Irregular expenses are costs that come up throughout the year, that you need to budget your money properly for or else you’ll find yourself reaching for a credit card when those expense comes up. You must save for these expenses in advance, and not feel guilty when you spend the money.
Detailed explanation-2: -Variable expenses are things you have to pay for that may change from month to month. Some examples include gas, parking, and tolls. Groceries, eating out, electricity or other usage-based bills, and household items like toiletries and cleaning supplies are some other examples of variable costs in your budget.
Detailed explanation-3: -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-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.