Unit 1 Review: Money and Spending

Front

What is the exchange rate?

Back

The exchange rate is the value of one currency for the purpose of conversion to another. For example, 1 USD = 0.96 Euros.

Tags

CCSS.6.RP.A.3B

Front

How do you convert Euros to US dollars?

Back

To convert Euros to US dollars, divide the amount in Euros by the exchange rate. For example, 128 Euros / 0.96 = 133.33 USD.

Tags

CCSS.6.RP.A.3B

Front

What does 'bartering' mean in finance?

Back

Bartering is the exchange of one good for another without using money.

Tags

CCSS.RI.11-12.5

CCSS.RI.9-10.5

CCSS.RI.8.5

CCSS.RI.7.5

CCSS.RI.6.5

Front

What is negotiating in the context of trade?

Back

Negotiating is the process of discussing terms and reaching an agreement, such as exchanging goods.

Tags

CCSS.RI.11-12.5

CCSS.RI.9-10.5

CCSS.RI.8.5

CCSS.RI.7.5

CCSS.RI.6.5

Front

How do you calculate a sale price after a discount?

Back

To calculate the sale price, subtract the discount amount from the original price. For example, $60 - ($60 * 0.25) = $45.

Tags

CCSS.6.RP.A.3C

Front

What is a coupon in retail?

Back

A coupon is a voucher that provides a discount on a purchase.

Front

How do you calculate the savings from a coupon?

Back

To calculate savings from a coupon, multiply the original price by the discount percentage. For example, $240 * 0.20 = $48.

Tags

CCSS.6.RP.A.3C

Front

What is the formula for calculating percentage off?

Back

Percentage off = (Discount Amount / Original Price) * 100.

Tags

CCSS.6.RP.A.3C

Front

What is the significance of understanding exchange rates?

Back

Understanding exchange rates is crucial for making informed financial decisions when traveling or trading internationally.

Front

What is the difference between importing and exporting?

Back

Importing is bringing goods into a country, while exporting is sending goods out of a country.