Better Buy

Front

What is a unit price?

Back

A unit price is the cost per single unit of measure, allowing for easy comparison of prices between different quantities or sizes.

Front

How do you calculate the unit price?

Back

To calculate the unit price, divide the total price by the number of units (e.g., price per ounce, price per pound).

Front

What is the importance of comparing unit prices?

Back

Comparing unit prices helps consumers determine which product offers the best value for money.

Front

What is the formula for calculating miles per gallon (MPG)?

Back

MPG = Total miles driven / Total gallons of gas used.

Front

How can you determine which option is a better deal when comparing two products?

Back

Calculate the unit price for each product and compare them; the lower unit price indicates the better deal.

Front

What is the significance of understanding ratios in pricing?

Back

Understanding ratios helps in comparing different quantities and prices, making it easier to identify the better deal.

Front

What is the difference between fixed costs and variable costs?

Back

Fixed costs do not change with the level of production or sales, while variable costs fluctuate with production volume.

Front

How do you convert ounces to pounds?

Back

To convert ounces to pounds, divide the number of ounces by 16 (since there are 16 ounces in a pound).

Front

What is the concept of opportunity cost?

Back

Opportunity cost is the value of the next best alternative that is forgone when making a decision.

Front

How do you find the better deal when given two different quantities and prices?

Back

Calculate the unit price for both options and compare them; the one with the lower unit price is the better deal.