1.3 Math in the Real World Quiz Review

Match the following

• producer

• the person who purchases the goods and services

• profit

• a person or company that makes, grows, or supplies goods or services

• economics

• the study of how a society produces, distributes, and consumes resources

• consumer

• the amount of income left after expenses are paid off

Match the following

• 5300 m

• 530 cm

• 5.3 m

• 5.3 cm

• 53 mm

• 5.3 km

Tags

CCSS.5.MD.A.1

What is 12 oz converted to lbs?

1 lb = 16 oz

• 528 yds

• 352 yds

• 192 lbs

• 0.75 lbs

Tags

CCSS.5.MD.A.1

What is 0.2 mi converted to yds?

1 mi = 1760 yd

• 528 yds

• 352 yds

• 192 lbs

• 0.75 lbs

Tags

CCSS.5.MD.A.1

Drag the following measurements to order them from least to greatest value.

1 mi = 1.61 km

• 3.2 mi

• 5.1 km

• 3.3 mi

• 5.2 km

Tags

CCSS.5.MD.A.1

You traveled 432.8 miles and your car used 12.4 gallons of gas. What was the approximate gas consumption of your car, in miles per gallon (mpg)?

mpg = miles / gallons

• 0.05 mpg

• 30 mpg

• 35 mpg

• 22 mpg

Tags

CCSS.5.MD.A.1

CCSS.5.NBT.B.7

Mandi bought a car five years ago for $15,000. She sold the car this year for $6,000. What was the percent change in the price?

• 40%

• -40%

• 60%

• -60%

Tags

CCSS.7.EE.B.3

CCSS.7.RP.A.3

Which prices represent the following for the baked beans market graph shown?

• - a surplus (more cans available than demanded)

• - a shortage (fewer cans available than demanded)

• - equilibrium (cans available equal to cans demanded)

• price of $4

• shortage

• price of $6

• surplus

• price of $8

• equilibrium

Tags

CCSS.5.G.A.1

CCSS.5.G.A.2

Which statements describe the role of a producer and which describe a consumer in the US Economy?

Groups:

(a) role of the producer

,

(b) role of the consumer

• make fewer goods if there is a surplus

• choose what to buy and whom to buy it from

• choose what to make

• maximize profit by pricing goods or services at the equilibrium point

• decide when to purchase an item at a given price

• make more goods if there is a shortage