which of the following would be considered a want rather than a need for most people: a place to
live, warm clothes, a phone, food
a phone
what is an opportunity cost
the trade off of making one choice and giving up a different choice
where should you look if you want to buy a computer for the fairest and most reliable information
an independent consumer education website that reviews and rates computers
what should you include for a budget of a business
all income and expenses
which of the following is a variable expense for many adults: monthly rent payment, monthly car
payment, monthly health insurance payment, monthly cost of eating at restaurants
monthly cost of eating at restaurants
which expense isn't a need: car insurance, rent payment, groceries, cable service
cable services
if you know the unit prices of two different brands of an item, what are you better able to
compare the prices of the two brands
you received $50 as a birthday gift and chose to spend it on new wallpaper. what is the opportunity
cost: other items you could have bought, the price, the time you could have spent doing something
else
the time you could have spent doing something else
which of the following is not true of a budget: budgets include both income and expenses, once a
budget is set it shouldn't be revisited, a budget can include charitable giving, budgets help you plan
how to spend money you earn or receive
once a budget is set it shouldn't be revisited
what is not a successful budgeting strategy: buy your needs first, pay with a credit card if you have a
hard time sticking to a budget, keep some extra money, revisit your budget regularly
pay with a credit card if you have a hard time sticking to a budget