Financial Literacy

Match the following

• Money received from goods and services; earnings

• income

• The amount calculated by subtraction one’s expenses from one’s income when selling something

• profit

• A plan that is used to decide the amount that can be spent and saved; it helps to avoid overspend

• budget

• Expenses that go up or down depending on a person’s need

• variable expense

• Expenses that are regular and remain the same from month to month

• fixed expense

Last week, John made $875 in candy sales. What was John’s profit for the week?

• 185.36

• 657.98

• 689.64

• 125.54

This month Jason mowed 7 lawns and earned $35 for each lawn he mowed. Jason’s parents gave him an allowance of $75 for the month. Jason spent a total of $46 on a new video game and saved the rest of his money. How much money did he save?

Based on the table, which statement is true about Margarita and Julie cell phone bills?

• only margaritas has a fixed expense bill

• Only Julie has a fixed expense bill

Ella bought 2 boxes of soda for $15 each. She sold all of them for $50. Did she made a profit?

• No, she lost $13

• Yes, she made $20

• Yes, she made $13

• No , she lost $20

Tags

4.10.D

Guzman bought 4 toys for $25 each. He sold one toy to his friend for $50 and another toy to his other friend for $25 dollars? Did he make a profit?

• No, she didn't make a profit, nor he lost money.

• No, she lost $25

• Yes, she made $25.

• Yes, she made $10

Tags

4.10.D

Banks charge a fee when you borrow money. This is called

(a)  

• interest
• deposit
• expense
• saving

Tags

4.10.D

Patty bought 2 apples for .50 each. She also bought a package of oranges for $2. She paid with $10. How much change she received after she paid for her groceries?

• $7.50

• $7.65

• $7

• $1

Tags

4.10.D

What's it call when you borrow money from the bank?

• Deposit

• Loan

• Credit

• Intereset

Tags

4.10.D

Kim bought a bike for $75. She painted it for $30.45. Then sold it for $150. What has her profit?

• 100.45

• 44.55

• 50,55

• She made no profit

Tags

4.10.D