Variable or Fixed Costs
Variable or fixed cost:
Buying a pint of ice cream for the weekend
variable
The budgeting process starts with monitoring current spending.
False
What strategy best help you with profit questions?
EIP table
Which institution is best known for lending people and businesses money?
A. Bank
B. Post Office
C. Hospital
D. Insurance Company
A. Bank
Variable or fixed cost:
Monthly Car payment
fixed
Variable expenses can be more difficult...
true or false and why
true, they vary and can change very easily.
Amy spent $20.00 on materials for ice-cream. She in total sold all the ice-creams for $100. What is Amy's profit?
$80
Ms. Casillo wants to borrow $13,750 to buy a new car. Which type of institution is most likely to lend her money.
F. Insurance company
G. Bank
H. University
J. Hospital
G. Bank
Variable or fixed cost:
Water and electric bill?
Variable
Planning out your annual expenses is important...
true or false and why
true, you need an outline of what you need to spend to figure out if your income will fit your budget
James spent $35.28 of gas to obtain a stereo. He then fixed the stereo for $10.50. He sold the stereo for $120.54. What was James profit?
$74.76
Money People deposit some or all of their money at banks because-
A. They want to be friends with the owners
B. They have more money than they need
C. They want to keep their money in a safe place
C. They want to keep their money in a safe place
Variable or fixed cost:
Groceries for the month
variable
A long-term goal is saving for more than six months.
True or false
true
Angel made 12 sock puppets for a schools event. Each sock puppet cost him $1.50 to make. He sold all of the puppets $40. What was Angel's profit?
$22.00
Lesley received $37 for her birthday. She can save the money in a jar under her bed, or she can deposit the money at a bank. Why might Lesley decide to deposit the money at a bank?
A. The jar is probably not big enough to hold $37
B. The bank will pay Lesley a small amount of money to keep it at the bank
C. Lesley might not be able to open the jar after she attaches the lid.
D. The bank will keep the $37 until Lesley is older and more responsible.
D. They have to follow the laws of their state
B. The bank will pay Lesley a small amount of money to keep it at the bank
Variable or fixed cost:
Unlimited plan for cellphone
fixed