What is an opportunity cost?

making a decision/choice based on limited/scarce resources.

Buying on the spur of the moment.

What is Impulse buying?

Buying on the spur of the moment

Buying something because it is cheap even when you don’t need it.

Buying something because it is cheap even when you don’t need it.

buying on the spur of the moment

Is money that is spent at the same time each week, month, year.

Money spent at different times which varies.

The amount paid out varies and is paid at different times.

money you spend on things you can live without

If you have a limited income you must plan to spend.

Is money you spend on things you can live without (luxuries)

reduce discretionary expenditure

Quiz

Lauren Mcguane 9 questions

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1What is an opportunity cost?
1. Amaking a decision/choice based on limited/scarce resources.
2. BBuying on the spur of the moment.
2What is Impulse buying?
1. ABuying on the spur of the moment
2. BBuying something because it is cheap even when you don’t need it.
3What is false economy?
1. ABuying something because it is cheap even when you don’t need it.
2. Bbuying on the spur of the moment
4What is fixed expenditure?
1. AIs money that is spent at the same time each week, month, year.
2. BMoney spent at different times which varies.
5what is Irregular expenditure?
1. AThe amount paid out varies and is paid at different times.
2. Bmoney you spend on things you can live without
6What is prioritising? (budgeting)
1. AIs money you spend on things you can live without (luxuries)
2. BIf you have a limited income you must plan to spend.
7What do you do if you have a deficit budget?
1. Adont pay bills
2. Breduce discretionary expenditure
8What is current expenditure? (Revenue expenditure)
1. Aspending on durable items.
2. Bspending on day to day items
9What is capital expenditure?
1. Aspending on day to day items
2. BIs spending on durable items.

Description: quiz on expenditure
Author: Lauren Mcguane
Language: English
Views: 65
Tags: expenditure quiz jc business business studies the business of living.junior certificate
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