Fin Mgmt M4

Front

What is one of the three rules for effective shopping?

Back

Use incentives wisely.

Front

Calculate the price of one pair of socks if 3 pairs cost $6.00.

Back

$2.00

Front

What is the unit price of apples if 3 pounds cost $2.10?

Back

$0.70

Front

How much change do you get back from a $20 bill if a flash drive costs $16.57?

Back

$3.43

Front

What is the term for the amount of money you leave for your server at a restaurant?

Back

Gratuity.

Front

What does 'unit price' mean?

Back

The cost per single unit of a product.

Front

If an item is on sale for 25% off its original price of $40, what is the sale price?

Back

$30.00

Front

What is the formula to calculate the total cost after tax?

Back

Total Cost = Price + (Price x Tax Rate).

Front

If you buy 5 items at $3.00 each, what is the total cost?

Back

$15.00.

Front

What is the difference between 'fixed costs' and 'variable costs'?

Back

Fixed costs do not change with production level; variable costs do.