Build and check a monthly budget

Grade 12 Social Studies Worksheet - Building Confidence

Circle the best answer.

1. Read this first

   Use this

   Card A. Compare chart "A first-job budget, one month" (made up for practice), columns Line | Kind | Amount: Take-home pay | income | $480; Phone plan | fixed | $30; Bus pass | fixed | $40; Food out | variable | $90; Clothes | variable | $60; Fun | variable | $80; Saving goal | saving | $100. Note: invented budget, made up for practice. Fixed lines cannot change this month; variable lines can.

2. 1.

   Milo wants to add $30 of monthly saving to card A. Which statement about the budget is correct?

   • It fits if Fun drops from $80 to $50, which is the sole way to find $30
   • The $80 left over covers the $30, and $50 would still be left
   • The fixed lines must be cut by $30, because saving comes before the other lines
   • The budget breaks by $30, because each line on the card is already spent
3. 2.

   Noah reads card A. Which claim do its fixed and variable lines support best?

   • Variable lines (food out, clothes, fun) total $230, far more than the $70 of fixed lines
   • Fixed lines are the biggest part of the budget, since they stay put while the other lines move
   • Most of the $480 goes to wants, because food out is a choice too
   • Fun is the largest variable line, because it is the one most easily cut
4. 3.

   Pia wonders if the budget will hold next month. Which missing fact would help most?

   • The size of the $100 saving goal, which sets what is left each month
   • The brand of the phone in the plan, which sets what the plan costs each month
   • How much the variable lines changed in earlier months
   • Whether the take-home pay is the same as gross pay

5. Use this

   Card A. Compare chart "Two invented phone plans" (made up for practice), columns Plan | Monthly price | Price of each GB of data used: Plan A | $25 | $5; Plan B | $45 | $0. Note: made up for practice. Plan A charges $25 plus $5 for each GB used. Plan B is one flat price for any amount of data.

6. 4.

   Tala uses 3 GB of data a month. Using card A, which plan costs less?

   • Plan B, because it has no price for each GB of data
   • Plan A, because it starts at $25 a month
   • They cost the same, because 3 GB at $5 is $15
   • Plan A, at $40 for the month against $45 for Plan B
7. 5.

   Zee now uses 6 GB a month. Which plan costs less, and why?

   • Plan B: Plan A would cost $55, which is more than Plan B's $45
   • Plan A: each GB costs just $5, so the plan stays cheaper than a flat $45
   • They cost the same, because both are $45 at 4 GB
   • Plan A: it has the lower starting price of $25
8. 6.

   Ari compares the plans at different amounts of data. Which claim does card A support best?

   • Plan B is the better plan for any user, since it is one flat price
   • Plan A costs $25 a month, so it costs less than Plan B whatever the use is
   • Plan B costs less once a person uses more than 4 GB a month
   • Plan A is the better plan for any user, since it starts at $25
9. 7.

   Bo must pick one plan. Which missing fact would most change the choice?

   • Whether the plan can be paid by card or must be paid at a shop
   • What Plan B costs for each GB of data, since the card leaves that out
   • What Plan A's starting price is
   • How many GB of data the user expects to use in a month

10. Use this

    Card A. Compare chart "The same basket of goods, two years" (made up for practice), columns Year | Cost of the basket | Pay for the month: Year 1 | $400 | $400; Year 2 | $420 | $410. Note: invented numbers. The basket holds the same goods both years.

11. 8.

    Esme reads card A. Did the buying power of Year 2 pay rise or fall from Year 1?

    • It rose: the $410 pay is above the Year 1 basket of $400
    • It fell: pay rose 2.5 percent but the basket's cost rose 5 percent
    • It stayed the same: both pay and the basket rose
    • It rose: pay went up from $400 to $410, so a month's pay buys more than before
12. 9.

    Jun asks what Year 2 pay would keep Year 1 buying power. Which pay does card A point to?

    • $420, because the same basket now costs $420
    • $405, because the pay and the basket are halfway apart
    • $410, because that is the pay in Year 2
    • $400, because pay should stay the same as before
13. 10.

    Kira writes one claim from card A. Which claim is best supported?

    • Pay buys more because it rose by $10, and the basket rise does not count
    • Pay buys less whenever prices rise, even if pay rises by more than prices
    • Prices rose because pay rose by $10, and the pay rise pushed up the basket
    • Pay can rise in dollars and still buy less if prices rise faster