Expenditure quiz

Lauren Mcguane
Quiz by Lauren Mcguane, updated more than 1 year ago
Lauren Mcguane
Created by Lauren Mcguane about 3 years ago
12
1

Description

quiz on expenditure
Tags

Resource summary

Question 1

Question
What is an opportunity cost?
Answer
  • making a decision/choice based on limited/scarce resources.
  • Buying on the spur of the moment.

Question 2

Question
What is Impulse buying?
Answer
  • Buying on the spur of the moment
  • Buying something because it is cheap even when you don’t need it.

Question 3

Question
What is false economy?
Answer
  • Buying something because it is cheap even when you don’t need it.
  • buying on the spur of the moment

Question 4

Question
What is fixed expenditure?
Answer
  • Is money that is spent at the same time each week, month, year.
  • Money spent at different times which varies.

Question 5

Question
what is Irregular expenditure?
Answer
  • The amount paid out varies and is paid at different times.
  • money you spend on things you can live without

Question 6

Question
What is prioritising? (budgeting)
Answer
  • Is money you spend on things you can live without (luxuries)
  • If you have a limited income you must plan to spend.

Question 7

Question
What do you do if you have a deficit budget?
Answer
  • dont pay bills
  • reduce discretionary expenditure

Question 8

Question
What is current expenditure? (Revenue expenditure)
Answer
  • spending on durable items.
  • spending on day to day items

Question 9

Question
What is capital expenditure?
Answer
  • spending on day to day items
  • Is spending on durable items.
Show full summary Hide full summary

Similar

Marketing - Business Studies
me3zer
Business Studies Unit 1
emily.mckechnie
Unit 3 Business Studies
Lauren Thrower
Unit 1: Business Studies GCSE
Libby Rose
3.1 Keywords - Marketing
Mr_Lambert_Hungerhil
Forms of Business Ownership Quiz
Noah Swanson
Forms of Business Ownership
James HERSH
Business Studies Unit 2
tara.springate
Contract Law
sherhui94
AQA Business Unit 1
lauren_binney
Unit 3.1: Marketing
nk_