
Financial Literacy

Flashcard
•
Mathematics
•
4th Grade
•
Hard
Wayground Content
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15 questions
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1.
FLASHCARD QUESTION
Front
What is profit?
Back
Profit is the amount of money a business makes after subtracting its expenses from its revenue.
2.
FLASHCARD QUESTION
Front
How do you calculate profit?
Back
Profit = Total Revenue - Total Expenses.
3.
FLASHCARD QUESTION
Front
If a shirt costs $4 to make and sells for $10, what is the profit per shirt?
Back
Profit per shirt = $10 - $4 = $6.
4.
FLASHCARD QUESTION
Front
What is a variable expense?
Back
A variable expense is a cost that can change depending on how much you use or consume, like entertainment or groceries.
5.
FLASHCARD QUESTION
Front
What is a fixed expense?
Back
A fixed expense is a cost that does not change, such as rent or a car payment.
6.
FLASHCARD QUESTION
Front
If you sell 50 cupcakes for $2 each and they cost $1 each to make, what is your total profit?
Back
Total profit = (Selling price - Cost price) x Quantity = ($2 - $1) x 50 = $50.
7.
FLASHCARD QUESTION
Front
What is total revenue?
Back
Total revenue is the total amount of money received from sales before any expenses are deducted.
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