Financial Terminology Quiz
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Questions and Answers

Which category do insurance premiums, credit card interest, and doctor's fees fall under?

  • Necessities (correct)
  • Products
  • Luxury goods
  • Price
  • What do insurance premiums, credit card interest, and doctor's fees represent?

  • Market prices
  • Consumer goods
  • Costs of essential services (correct)
  • Luxurious expenditures
  • What type of expenses are insurance premiums, credit card interest, and doctor's fees?

  • Non-discretionary expenses (correct)
  • Variable expenses
  • Discretionary expenses
  • Fixed expenses
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