E-Port Economics, Money, and Financial Literacy

**Don’t forget to show your work, meaning show me what you did to get the answer (such as what you plugged into the calculator, in order, to get your answer.)

Title:  Economics, Money, Financial Literacy

Questions:

What is supply and demand? Give me an example of how it affects prices.

Explain how you change a decimal to a percentage. (use math words)

Explain how you change a percentage to a decimal. (use math words)

Find the unit price:  8.5 pounds of ground beef for $19.00.

If a sweater costs $35.60, but it is on sale for 40% off, then how much would it cost without tax?

How much will that same sweater cost with tax (if the sweater is for an adult, not a child)?

Which one is a better buy for cereal — 18 ounces of Cheerios at $6.79, or 15 ounces of Raisin Bran at $5.35?

What is interest? Give me two examples when someone would pay interest.

If I put $10 in a savings account, and I earn 5% interest each month, how much will I have in the account after three months (simple interest)?

If I go to a restaurant and purchase a Sprite for $2.60, a sandwich for $8.60, and a cookie for $2.30, how much will the bill be after tip of 15%?

Tell me three things you have learned from doing classroom economy that relate to the real world when you will have to manage money on your own.

If money is something we need to purchase basic needs, such as food, should we all have the same access to money and earn the same amount?

What has this unit made you think about in terms of money? Any questions that came up?