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WorksheetsBudget
Total questions: 10
Worksheet time: 5mins
All of these are "NEEDS" EXCEPT:
BUS FARE
MOVIE TICKETS
RENT
GROCERIES
What is opportunity cost?
the tax that is paid on income
the fees that are paid for education
the value of an alternative you give up
the interest paid on a long-term investment
Rent and car insurance payments are both which type of expenses?
fixed costs that are needs
fixed costs that are wants
variable costs that are needs
variable costs that are wants
A consumer is someone who
buys something
makes something
offers a service
sells a product
Which word of phrase should be at the top of the left column of this budget?
Cash flow
Fixed costs
Income
Savings
Which statement about variable expenses is true?
Variable expenses include only large costly items.
Variable expenses should not be included in the budget.
Variable expenses include wants but not needs.
Variable expenses are easier to cut than fixed expenses.
What is the main purpose of a budget?
to keep track of cash flow
to find new sources of income
to differentiate between needs and wants
to determine the amount of taxes to be paid
Lola is saving for a vacation. Based on the budget numbers here, how much can she put in her vacation account this month?
$32.00
$48.00
$112.00
$128.00
Cory's budget shows a problem. His weekly expenses average $10 more than his earnings. Coryworks 5 days a week and every day on his way to work, he spends $2.50 on hot chocolate. Will cutting out the hot chocolate help Ellis balance his budget?
Yes, and he will have some money left ove
Yes, the amount he saves will balance his budget exactly.
No, Ellis will have to find other places to cut.
Gabby wants to buy a new dishwasher that costs $500. She has already saved $100. She earns $1,200 a month and her total monthly expenses come to $1,000. Gabby is going to put all of her extra money each month into her savings account for the dishwasher. Assuming her expenses stay the same, how long will it take Gabby to save enough money for the dishwasher?
three months
Two monthes
five months
one month
