Household Budgeting

The amount we send during a particular period is called 

• Income
• Expenditure
• Earnings
• Buying

Household bills like mortgage are 

• Irregular Spending
• Irregular Expenditure
• Discretionary Expenditure
• Fixed Expenditure

What is impulse buying?

• Buying for entertainment
• Buying regularly
• Buying on the spur of the moment
• Buying according to plan

Callum has 10 euro to spend. He could play snooker or go to the cinema. He decides on the snooker. The opportunity cost is

• 10 Euro
• 5 Euro
• going to Cinema 
• financial cost

Holidays are

• Opportunity cost
• Financial Income
• Discretionary Spending
• Regular Spending

When our expected income is greater than expected we have a ...

• Budget deficit
• Budget surplus
• Budget

When our expected income is less than our expected expenditure 

• Budget surplus
• Discretionary
• Budget deficit
• Net cash

Net cash is...

• Total income minus total expenditure
• Total expenditure minus total income
• Budgeting

Goods that are not made by a well-known manufacturer is 

• branded
• unbranded

Entertainment is 

• Fixed Spending
• Irregular Spending
• Discretionary Spending
• Opportunity Cost