Q: Why is it important to build a budget, even if art-making
isn’t your main source of income?
A: They are used as a reference point for communication and
strategizing.
Q: Based on your current semester spending, pretending you are
spending another term here- build a budget for that semester?
A: 2014 Fall Semester ( Projected )
Gas – 3,360
Food – 4,000
Supplies – 6,000
Tuition - 7,500
Q: What is the difference between actual cost and opportunity
cost?
A: Opportunity cost is the revenue that your resources would
have generated in their next- best use (capital, materials, skill-sets, etc.)
Actual cost provides a realistic set of numbers to use as your future activity
estimates.
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