financial literacy

Front

What is profit?

Back

Profit is the money you make after selling something, minus the cost of buying it.

Front

If you buy something for $15 and sell it for $50, what is your profit?

Back

Your profit is $35.

Front

What is a loss in business?

Back

A loss occurs when you sell something for less than what you paid for it.

Front

If you buy 4 toys for $25 each and sell 2 for $50 and $25, did you make a profit or a loss?

Back

You made a loss of $25.

Front

What is change in a transaction?

Back

Change is the money you receive back after paying for something.

Front

If you buy 2 apples for $0.50 each and a package of oranges for $2, how much do you spend in total?

Back

You spend $3.00 in total.

Front

What is a loan?

Back

A loan is money that you borrow from a bank or another person that you must pay back.

Front

What is interest?

Back

Interest is the extra money you pay back when you borrow money.

Front

Why is it beneficial to keep money in a bank?

Back

You can earn interest on it, which helps your money grow.

Front

What is a deposit?

Back

A deposit is money you put into a bank account.