Financial Literacy Mid Unit Check

Front

What is a rebate?

Back

A rebate is a partial refund to someone who has paid too much money for tax, rent, or a utility.

Front

If a product has a $50 rebate and the original price is $200, what is the final price after the rebate?

Back

$150

Front

What does a 30%-off sale mean?

Back

It means that the price of the item is reduced by 30% from its original price.

Front

What is the sale price for a pair of $24.00 jeans during a 30%-off sale?

Back

$16.80

Front

What are fixed expenses?

Back

Fixed expenses are costs that do not change from month to month, such as rent.

Front

What is the difference between fixed and variable expenses?

Back

Fixed expenses remain constant, while variable expenses can change based on usage or consumption.

Front

What is net worth?

Back

Net worth is the difference between a person's assets and liabilities.

Front

If Claude's assets total $24,000 and his liabilities total $49,420, what is his net worth?

Back

-$25,420

Front

What is a discount?

Back

A discount is a reduction in the price of a product or service.

Front

If a pair of shoes costs $50.00 and a 20% discount is offered, what is the amount of discount?

Back

$10.00