Financial Literacy Review
Flashcard
•
Mathematics
•
7th Grade
•
Practice Problem
•
Hard
Standards-aligned
Wayground Content
FREE Resource
Student preview
15 questions
Show all answers
1.
FLASHCARD QUESTION
Front
What is a tax on retail products based on a set percentage of retail cost?
Back
Sales tax
Tags
CCSS.6.RP.A.3B
2.
FLASHCARD QUESTION
Front
What is a fixed expense?
Back
An expense that remains the same each month.
3.
FLASHCARD QUESTION
Front
What is the term for the money in your account?
Back
Balance
4.
FLASHCARD QUESTION
Front
What are examples of fixed expenses?
Back
Rent payment, car payment, insurance premiums.
5.
FLASHCARD QUESTION
Front
What is the difference between fixed and variable expenses?
Back
Fixed expenses remain constant each month, while variable expenses can fluctuate.
6.
FLASHCARD QUESTION
Front
What is a budget?
Back
A plan that outlines expected income and expenses over a specific period.
7.
FLASHCARD QUESTION
Front
What is the purpose of an emergency fund?
Back
To cover unexpected expenses without going into debt.
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