Understanding Money and Expenses

An expense that changes from month to month is called ...

• fixed expense

• variable expense

• profit

Tags

CCSS.3.OA.D.9

Which of the following is a fixed expense?

• Monthly rent

• Grocery bills

• Utility bills

• Entertainment expenses

If you earn $50 from a lemonade stand. You spent $20 on supplies. What is your profit?

• $30

• $20

• $70

• $50

Tags

CCSS.3.OA.D.8

Which of the following is an advantage of a savings account?

• High risk

• Easy to spend money using a credit card.

• Money is safe. Helps you save instead of spend.

• You cannot access your money without permission from the bank.

Ken spent $7 on supplies to make rubber bracelets. He sold $20 worth of bracelets on Tuesday. What was his profit?

• He didn't make a profit yet.

• $13

• $20

• $27

Tags

CCSS.3.OA.D.8

How should you allocate a weekly allowance of $10 if you want to save for college, spend on toys, and share with others?

• Spend $10 on toys

• Share $10 with others

What is the role of a bank when you borrow money?

• To keep your money safe

• To lend you money that you must pay back with interest

• To give you money for free

• To help you spend money

Which of the following is a variable expense?

• Car payment

• Rent

• Dining out

• Mortgage

You want to sell cookies to earn enough money to buy a $30 video game. You spent $10 on supplies. The first day, you sold $25 worth of cookies. You have a profit of ____, which means you will need to save $___ more to buy your game.

• $25 / $5

• $15 / $30

• $15 / $15

• You cannot figure out the $ because there is not enough information.

Tags

CCSS.7.NS.A.3

Car Payment

• Fixed Expense
• Variable Expense