Math Spiral Review Tuesday December 17

Front

What does it mean to borrow money with interest?

Back

It means that when you borrow money, you have to pay back the amount you borrowed plus an extra amount called interest.

Front

Why did Mrs. Williams pay back more money than she borrowed from the bank?

Back

She had to pay interest on the amount of money she borrowed.

Front

What happens to the price of a product when there are fewer items available?

Back

The price will likely increase because there are fewer items available to buy.

Front

In which situation would a seller likely charge a higher price for their product?

Back

When there are fewer products available than customers wanting to buy them.

Front

What is interest?

Back

Interest is the extra money you pay back when you borrow money.

Front

What is a loan?

Back

A loan is money that is borrowed and must be paid back, usually with interest.

Front

What does supply and demand mean?

Back

Supply is how much of something is available, and demand is how much people want it. Prices can change based on supply and demand.

Front

If a fruit stand has more fruit than customers, what might happen to the price?

Back

The price might decrease because there is more fruit available than people want to buy.

Front

What is a budget?

Back

A budget is a plan for how to spend and save money.

Front

What does it mean to sell something?

Back

To sell something means to give it to someone else in exchange for money.