8.CE.1 Consumer Math Vocab Quizs

Markup

• An amount SUBTRACTED from the original price to determine the selling price.

• An amount ADDED to the original price to determine the selling price. This is used to make a profit.

• A fixed fee charged for services rendered.

• A discount applied to the original price to encourage sales.

Tax

• An amount ADDED to the original price of a product. Money is used to fund education, health care, etc.

• A fee charged for services rendered by the government.

• A discount applied to the total price of a product.

• A penalty for late payment of bills.

Sale Price/Resulting Total

• The price you pay before any taxes or discounts are applied.

• The price you pay after a tax, tip, discount, or markup has been applied.

• The original price of an item before any changes.

• The price you pay only after a discount has been applied.

Percent Increase

• When the new number is smaller than the original number, you will have a percent increase.

• When the new number is equal to the original number, you will have a percent increase.

• When the new number is bigger than the original number, you will have a percent increase!

• When the new number is negative, you will have a percent increase.

Percent Decrease

• When the new number is SMALLER than the original number, you will have a percent DECREASE!

• When the new number is LARGER than the original number, you will have a percent INCREASE!

• When the new number is EQUAL to the original number, there is no percent change.

• When the new number is a fraction of the original number, you will have a percent DECREASE!

Discount

• An amount added to the original price to determine the selling price.

• An amount SUBTRACTED from the original price to determine the selling price.

• A fee charged for late payments.

• A tax applied to the final sale price.

Final Price

• The price you pay before any taxes or discounts are applied.

• The price you pay after a tax, tip, discount, or markup has been applied.

• The original price of an item before any adjustments.

• The price you pay only after discounts are applied.

Tip (gratuity)

• An amount ADDED to the original price of a service.

• A discount subtracted from the total bill.

• A fixed fee charged for services rendered.

• A tax imposed on luxury services.

Proportional

• Two quantities are directly proportional if, as one quantity increases, the other quantity also increases at the same rate.

• Two quantities are inversely proportional if, as one quantity increases, the other quantity decreases.

• Two quantities are proportional if they are equal to each other at all times.

• Two quantities are proportional if their ratio remains constant regardless of their values.

Solve

• Find an answer to a problem.

• Create a new problem.

• Ignore the problem.

• Discuss the problem with others.