Consumer Math A unit 1 a
Terms in this set (59)
The earliest form of trade was____.
Negotiating in trade means you are___.
Coming to an agreement on an item's value.
If a dozen eggs (12 eggs) are worth 3 cowry shells, how much would 6 dozens eggs be worth?
18 cowry shells
I have 7 cowry shells. If a dozen eggs (12 eggs) cost 3 cowry shells, how many dozens can i purchase?
The biggest problem when using metals (or cowry shells) for trading is___.
Large amounts become very heavy to carry around
The gold standard is___.
No longer used by many countries
When using metal as the exchange basis, two coins must have the same value if___.
The are the same weight and the same metal
If gold is currently trading at $800.00/oz. and you inherited a gold coin worth $1600.00, how much does the coin weight?
Currency exchange rates are based on___.
Each country's economy
When needing to complete a you should___.
Go to a currency exchange rates
You are traveling to japan and need Japanese Yen (JPY). How much JPY could you get for $200 USD if the rate is USD/JYP 0.9333?
You have returned from a trip to Europe and still have $100 euro. How much in U.S. dollars should you receive if the exchange rate is USD/EUR 0.6991?
Smart shoppers usually buy items that they need__.
At their lowest cost
When adding decimals by hand, you must___.
Line up the decimals of the numbers then add from right-to-left
You buy a serving spoon for $4.05 and a bread knife for $3.99. What is the total cost of your purchase?
You buy some living room furniture: couch = $499.99, loveseat = $239.49 and rocker = $139.73. How much is your total purchase?
when using a calculator, be sure you press____first.
"C" to clear any previous calculations
You spent $103.46 the original price totaled $165.77. How much did you save?
The original cost of a lamp is $18.95. The lamp is on sale for 75% off. How much will you pay?
When trying to find the best deal items, you should___.
All of the above
If you calculating a 15% off discount, you need to ___to know the sale price.
Multiply the original price by 85%
You are purchasing 2 shirts at $15.00 (each) and 1 pair of jeans at $30.00 (each). You have a coupon for 10% off. How much is the total cost with the discount?
The original sale price of an item at Markdown is $110.95. You have an additional 20% off coupon for Markdowns for purchases totaling $90.00 or more using the coupon, how much more do you save when compared to the original sale price?
Bartering was an early way that people___.
Exchanged a good or service directly for a good or service
Currency is used to __.
Make the exchange of goods or service easier
Reducing the original price of an item is often called____.
People wait for sales to___.
Get the best price for a good
When calculating how much you saved, you have to ____.
Subtract the sale price from the original price
Exchange rates help you to know___.
How much your currency is worth in another currency
Using the following information, how much will you save compared to the original prices if you buy one T-shirt and one pair of sandals at the sale prices?
When exchanging from your currency to another country's currency using a foreign rate exchange table, you should___.
Multiply the amount you have by the exchange rate
You are traveling to Colombia, where the currency is the Colombian peso (COP). The exchange rates is USD/COP 1,983.24. How many Colombian pesos will you get if you exchange $100 USD?
You are returning from a trip to Italy with 100 euro. The exchange rate is USD/EUR 1.3847. How much in US dollars should you receive?
Which activity at the grocery store would not involve mathematics?
Choosing what kind of apple to buy
When calculating total savings, you must___.
Calculate the total cost of the item when not on sale and subtract the sale cost.
You go to the grocery store and find that bread is $4.99 for one loaf or two loaves for $6.50. how much would you save by buying two loaves at the discounted price, compared to the cost of buying two loaves at full price?
You buy 2 gallons of milk at $2.48/gallons of ice cream at $1.49/gallon, and 5 lbs of strawberries at $0.58/lb. What is your total cost?
Store brands have a tendency to be ___.
Less expensive than brand names
Allow you to add a discount onto another discount
You are buying two bags of potato chips at the grocery store. You have a manufacture's coupon for $0.50 off and the store is offering 50% off if you buy two bags. The discounts are stackable. How do you compute your final cost?
Add the two bags together, divide by 2, and then subject $0.50
You are buying two bags of potato chips at the grocery store. You have a manufacturer's coupon for $0.50 off and the store is offering 50% off if you buy two bags . One bag of potato chips cost $2.00 . The discounts are stackable. What is your final cost?
Sales tax is ___.
all of the above
To calculate the total purchase price of on-sale items with a 6% sales tax, you must___.
Add the sales prices and multiply by 1.06
You purchase a stereo that originally costs $250 but is marked 10% off. The sales taxis 5%. How much of your total purchase cost is sales tax?
You purchase 3 packs of batteries at $11.99/ pack. You have a coupon for 10%off and the sales tax is 7%. how much is the total cost of your purchase?
all of the above
____Is an additional amount added to the total purchase price.
When calculating your final total, including sales tax, you must___.
Multiply the sales tax percentage by the sales cost of the purchase (including any applicable discounts) and then add it to that total
sales tax is___.
given to the state government
Before going to the grocery store, you should___.
all of the above
You buy 6 apples at $0.49/apples, 1 gallon of milk at $3.48/gallon, and 2 loaves of bread at $1.49/loaf. How much was your total purchase?
using your total from #6, calculate the total purchase cost if the sales tax is 4% on foods.
The grocery store has a special deal on potato chips where if you buy 1 bag you get the second bag for 50%off. if the sales tax is 5%, how much is your total purchase for 3 bags of chips ig each bag costs $2.50?
You go to electronics store to buy 3 CDs. Each CD's original cost is $9.99. You have a coupon for 10% off and the sales tax is 6%. What is your total purchase cost?
At the electronics store you have a coupon for 20% off of up to 2 CDs. You buy 4 CDs with an original cost of $10.99/each. The sales tax 5%. what is the total cost of your purchase?
outlet malls sell goods___.
At a discount
When calculating your total purchase on sale items, you must____.
Add all the items together at their sales cost the add sales tax
If you buy 3 pairs of socks with an original cost of $9.99/pair at a discount of 15% with a sales tax of 5%, how much do the socks cost in total?
You buy 3 pants an original cost of $24.99 and the sale is buy 1 get the 2nd pair half off. The sales tax is 6%. How much do you pay in total for the pants?