Economics Budgeting Quiz

A budget that prioritizes expenses is required for someone with __________ income.

• Regular

• Irregular

• Discretionary

• Intermittent

A ________________ expense needs to be evaluated in light of other expenses.

• Fixed

• Discretionary

• Regular

• Irregular

A ___________ expense remains the same from month to month.

• Discretionary

• Fixed

• Regular

• Irregular

Costs of items like groceries and gas are considered:

• Fixed

• Discretionary

• Variable

• Irregular

Your biggest wealth-building tool is your:

• Income

• Investments

• Inheritance

• Incentives

Which is NOT a purpose of tracking expenses?

• Sticking with a budget

• Making adjustments

• Catching mistakes

• Comparing with national averages

The kind of budget that accounts for fixed, variable, intermittent, and discretionary expenses based on income:

• Comprehensive

• Zero-based

• Ground-truth

• Monthly

The ___________ system is helpful for expenses like entertainment, food, shopping, and gas:

• Envelope

• Enlisted

• Developed

• Descriptive

Which is NOT a regular category in your budget?

• Saving

• Spending

• Giving

• Taxes

Specific categories are important when creating your budget so you can:

• Be organized

• Break down income and spending

• Be able to do your taxes

• Break down your situation vs others