Business - Chapter - Expenditure
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9 Terms
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Expenditure
Any money spent by a person or household
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Opportunity Cost
The thing you didn’t pick when you make a choice
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Financial Cost
How much money something costs
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False Economy
A purchase that looks like it saves money, but doesn’t in the long run
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Impulse Buying
When you buy something without planning or considering pros and cons
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Overspending
When an individual’s or household’s expenditure is higher than their income
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Fixed Expenditure
A payment that is made on a regular basis and doesn’t change with usage
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Irregular Expenditure
A payment that varies in the amount and/or when it is paid depends on usage
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Discretionary Expenditure
A payment for something we want but don’t need
Note 
Flashcards (98)