Smart Shopping Vocabulary Quiz

What are the expenses that remain the same each month, such as rent or mortgage?

• Variable expenses

• Fixed expenses

• Discretionary expenses

• Unit price

What is the term for an estimate of income and expenses over a specific period, usually monthly or yearly?

• Decision

• Opportunity cost

• Income

• Budget

What is money earned or received from various sources, such as a job or investments?

• Research and reviews

• Yearly

• Income

• Sales tax

What is the cost of giving up one opportunity to take another called?

• Unit price

• Businesses

• Income tax

• Opportunity cost

What is the term for a desire or preference for something that is not essential for survival?

• Savings

• Commission

• Want

• Need

What are the necessities required for survival, such as food, shelter, and water?

• Need

• Sales tax

• Income

• Yearly

What is a tax imposed by the government on the purchase of goods and services?

• Income tax

• Discretionary expenses

• Sales tax

• Unit price

What is the cost of a single unit or item, used to compare prices of similar products?

• Fixed expenses

• Unit price

• Charitable giving

• Commission

What is the term for expenses on non-essential items or activities that are not necessary for basic needs?

• Variable expenses

• Salary

• Discretionary expenses

• Savings

What is the term for money set aside for future use, emergencies, or planned purchases?

• Yearly

• Income

• Sales tax

• Savings