1665830
Description
Flashcards by aoifeccaulfield, updated more than 1 year ago
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Created by aoifeccaulfield
almost 10 years ago
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| 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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