Personal Finance Lesson #3 Shopping

What is a coupon?

A printed paper offering a certain discount on an item

A virtual discount that might be scanned for a lower price

A rain check

An added tax or fee

The list price of an item is what?

The full retail price

The price on a grocery list

The original cost of an item, before any sales tax or discounts

The sales price

A subtotal can be defined as

The amount of the total purchase

The cost of one item

The total amount before another amount is added or subtracted

The total number of people on a submarine

What is sales tax?

A charge to ring up a sale

A charge only on a certain day of the week

A charge that certain states add onto your purchase that is regulated by the government

A tax that every state in the United States has

The process of saving can be defined as

Not spending

Carefully budgeting and paying bills

Putting money aside regularly for a rainy day

Putting money aside regularly for a vacation or other desired event or object

A discount can be defined as

A decrease in the original price

A certain percentage off the original price

A percentage added onto the original price

An annual thing stores do

In some states, food is exempt from sales tax. What does exempt mean?

They add sales tax to it

They add a percentage of discount to it

You aren't charged sales tax for those items

To leave or exit

End of Season sales are what?

Where shops clear out items at the end of a season at a deep discount, like 40%, 60%, 75% or more

Sales held at the end of spring, summer, winter, and fall

Sales held on the anniversary of the businesses' opening

Decided by regional management

To figure percentage, you divide it by 100; like 40/100 is .40 or 40%

True

False

Often, sales items are not able to be returned.

True

False

More Quizzes