WorksheetsUnderstanding Fixed and Variable Costs
Total questions: 5
Worksheet time: 3mins
Name
Class
Date
1.
What is a fixed cost?
a)
A cost that changes every month
b)
A cost that remains the same every month
c)
A cost that only occurs once a year
d)
A cost that depends on the weather
2.
Which of the following is an example of a variable cost?
a)
Rent
b)
Electricity bill
c)
Mortgage payment
d)
Car insurance
3.
If your monthly rent is $500, what type of cost is this?
a)
Variable cost
b)
Fixed cost
c)
Occasional cost
d)
Seasonal cost
4.
Which of the following statements is true about variable costs?
a)
They are always higher than fixed costs
b)
They can change based on usage or consumption
c)
They are paid annually
d)
They never change
5.
If you spend 100ongroceriesonemonthand 150 the next month, what type of cost is this?
a)
Fixed cost
b)
Variable cost
c)
Annual cost
d)
One-time cost
100 %
