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WorksheetsHousehold Income and Expenditure First Years
Total questions: 13
Worksheet time: 9mins
What is income?
The money a household
spends and can use to buy
goods and services
Regular money into the household
The money a household
receives and can use to buy
goods and services
Jobseeker’s Benefit
Irregular Income is?
Money that arrives in different currencies
non-cash forms of income
Income received every week or month.
Income received now and again, or maybe only once in your life.
Restaurant employees receiving free food for their lunch and dinner plus a Salesperson receives a company car, free motor insurance and fuel are examples of what?
(a)
Do people have to pay taxes on Benefits in Kind?
They do
They don't
If Evie has an income of €180, and has expenditures of Bus fare €30, Mobile phone €25
and Credit union savings €40 how much will she have left?
85
90
80
75
Which one of these is not a way of increasing your income?
Extra work/overtime
Borrow money
Selling belongings
Rent a room
Once you have calculated how much income you expect to earn over a
certain period of time, you can begin to plan how much you can spend
during the same period.
This is known as what
(a)
Which of these is not a type of household expenditure
Fixed
Discretionary
Irregular
Regular
Long-term or once-off spending is what type of expenditure?
(a)
Day-to-day or short-term spending is what type of expenditure?
(a)
What is Impulse Buying?
Sticking to the plan when buying
When you miss out on when you
chose one alternative over another
Spreading bills over the year
Buying something in the spur of the
moment without asking yourself if
you can afford the item or if you
really want or need it.
The item or benefit you miss out on when you
chose one alternative over another is an example of what?
(a)
Harry has €30 he wants to go paintballing and the Drogheda United match. Paintballing costs €27 and the Drogheda United match costs €25. He decides to go paintballing, what is the financial and the Opportunity cost
The Opportunity Cost is the Drogheda United match and the Financial cost is €27
The Opportunity Cost is the paintballing and the Financial cost is €27
The Opportunity Cost is the Drogheda United match and the Financial cost is €25
The Opportunity Cost is the paintballing and the Financial cost is €25
