buisness ch:2 household expenditure

aoifeccaulfield
Flashcards by aoifeccaulfield, updated more than 1 year ago
aoifeccaulfield
Created by aoifeccaulfield over 6 years ago
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Flashcards on buisness ch:2 household expenditure, created by aoifeccaulfield on 11/18/2014.

Resource summary

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
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