Using the above graphic identify one example each of fixed, irregular and discretionary expenditure - Junior Cycle Business Studies - Question 1 - 2019
Question 1
Using the above graphic identify one example each of fixed, irregular and discretionary expenditure.
Write your answers in the table below.
Fixed Expenditure | ... show full transcript
Worked Solution & Example Answer:Using the above graphic identify one example each of fixed, irregular and discretionary expenditure - Junior Cycle Business Studies - Question 1 - 2019
Step 1
Fixed Expenditure Example:
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Answer
In the context of household expenditure, an example of fixed expenditure is Housing, which is listed as €164 in the graphic. Fixed expenditures are regular and predictable costs that do not change from month to month.
Step 2
Irregular Expenditure Example:
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Answer
An example of irregular expenditure is Food, which amounts to €123. Irregular expenditures can vary in amount and frequency, making them less predictable compared to fixed expenses.
Step 3
Discretionary Expenditure Example:
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Answer
A suitable example of discretionary expenditure is Clothing & Footwear, which costs €34. Discretionary expenditures are non-essential items; they are more flexible and can be adjusted based on preferences.
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