Fixed and variable expenses

Front

What is a fixed expense?

Back

A fixed expense is a cost that does not change from month to month, such as rent or a subscription service.

Front

What is a variable expense?

Back

A variable expense is a cost that can change from month to month, such as groceries or entertainment.

Front

Is a Netflix subscription a fixed or variable expense?

Back

A Netflix subscription is a fixed expense.

Front

Are school supplies a fixed or variable expense?

Back

School supplies are a variable expense.

Front

If Leonardo bought 24 Pokemon cards for $10 and sold each for $2, what was his profit?

Back

Leonardo's profit was $38.

Front

If Joana bought 3 shirts for $5 each and sold them for $15 each, what was her profit?

Back

Joana's profit was $30.

Front

Buying shoes is considered a fixed or variable expense?

Back

Buying shoes is a variable expense.

Front

What is the formula to calculate profit?

Back

Profit = Total Revenue - Total Cost.

Front

If you spend $50 on groceries and $20 on a movie, which is a variable expense?

Back

Both groceries and the movie are variable expenses.

Front

What is an example of a fixed expense?

Back

An example of a fixed expense is a monthly mortgage payment.