buisness ch:2 household expenditure

Question	Answer
what is expenditure	the amount we spend in a particular period
what is impulse buying	buying something on the spur of the moment
what is opportunity cost	the opportunity cost of something is the item we had to do without or the opportunity we had to forego
what is a mortgage	a loan from the bank or a building society to help someone buy a house
what is fixed expenditure	stay the same no matter what eg; mortgage
whats irregular expenditure	change depending on how much we sue eg;telephone bill
whats discretionary expenditure	is the things we spend with the money we have left over eg; a holiday

Resource summary

	Created by aoifeccaulfield almost 12 years ago