Fixed and Variable Expenses
10
Curipod generated lesson: "Fixed and Variable Expenses". #1-4
hcure
Updated 5 months ago
1. Poll
20 seconds
Name two types of expenses.
- Fixed & Variable
- Fixed & Not Fixed
- Variable & Non Variable
2. Slide
60 seconds
Fixed expenses don't change from month to month, like rent or car payments. Variable expenses can change, like groceries or entertainment. It's important to budget for both types of expenses.
Understanding Fixed and Variable Expenses
3. Slide
60 seconds
4. Slide
60 seconds
Fixed Expenses: These are expenses that occur on a regular basis and are the same amount each month. Examples include rent, car payments and insurance. Variable Expenses: These are expenses that change from month to month and can include groceries, gas, and entertainment. Budgeting: This is the process of planning how you will spend and save your money. A budget helps you keep track of your spending and make sure you have enough money for your fixed and variable expenses.
Concepts:
5. Poll
60 seconds
What kind of expenses do you think are best for a family budget?
- Fixed expenses
- Variable expenses
- Both fixed and variable expenses
- Neither fixed nor variable expenses
6. Slide
60 seconds
Fixed expenses are the same amount each month, while variable expenses can change from month to month. Fixed expenses can include rent, insurance, and loan payments, while variable expenses can include entertainment, groceries, and utilities. Fixed expenses are typically necessary, while variable expenses are considered optional and discretionary.
Did you know?
7. Open question
210 seconds
"What would be the best way for a fourth grader to calculate their own profit from a lemonade stand?"
8. Slide
60 seconds
Profit is the money you make after selling something and subtracting the cost. To calculate profit, subtract the cost from the sale price. The higher the profit, the more money you make!
Calculating Profit
9. Slide
60 seconds
10. Poll
60 seconds
What is the difference between a profit and a loss?
- Profit is negative & loss is positive .
- Loss is negative & Profit is positive .
- There is no difference.
11. Slide
60 seconds
The first profit-sharing plan in the US was created by the American Express Company in 1875. Calculating profit also includes taking into account any losses incurred during the same period. Profit and loss statements can be used to calculate a company's net worth - the total value of all its assets minus liabilities.
Did you know?
12. Word cloud
150 seconds
What do you think is the most important factor when calculating profit?
13. Open question
180 seconds
What are some examples of fixed expenses that a business might have?
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