Financial Literacy EVALUATE

Which expenses were variable expenses for Ms. Mendoza during the four months?

• A. All of the expenses

• B. None of the expenses

• C. Utilities and food only

• D. Rent and insurance only

Malcolm buys and sells sports cards. He bought some baseball, basketball, and football cards for a total of $20.00. He then sold the cards for the prices shown in the list. - He sold the baseball cards for $9.25. - He sold the basketball cards for $8.50. - He sold the football cards for $9.00. What was Malcolm’s total profit from selling the baseball, basketball, and football cards?

• $26.75

• $6.75

• $7.25

• $8.50

Banks require their customers to do which of the following?

• Spend a certain amount of money each month.

• Save a certain amount of money each week.

• Share the money in their accounts with other people.

• Pay interest on any loans they have been given.

What kind of expense was the repayment of the loan?

• Fixed

• Variable

• Taxed

• None of these

• $4.49

• $4.26

• $4.31

• $8.69

Pedro paid $7.85 for some seashells. He then sold them to his friends. The money he received from the sale was $12.95. What was Pedro’s profit?

• $5.40

• $4.80

• $5.10

• None of these

Kendra’s monthly cell phone bill is sometimes as low as $35 and sometimes as high as $75. What kind of expense is Kendra’s monthly cell phone bill?

• Labor

• Variable

• Income

• Fixed

Trinity makes and sells necklaces. To make one necklace, she has the expenses listed in the box shown. If Trinity sells one necklace for $35, how much profit will she earn?

• $16.75

• $21.75

• $17.95

• $18.25

Which statement best describes a service provided by banks?

• Banks provide food and shelter to people in distress.

• Banks provide computer education to new businesses.

• Banks provide loans to people and businesses.

• Banks provide postage stamps and packing materials.

The table shows the amounts that Patsy and Grant paid for high-speed internet each week for the last five weeks. Based on the information in the table, which statement is true about the amounts Patsy and Grant paid for high-speed internet during these five weeks?

• Both Patsy’s and Grant’s internet expenses were fixed expenses.

• Grant’s internet expense was a fixed expense.

• Both Patsy’s and Grant’s internet expenses were variable expenses.

• Patsy’s internet expense was a fixed expense.