7th Grade Module 2 & Module 5 Vocab Terms

Question 2

Positive difference between the estimate and the actual amount.

Answer 2

Amount of error

Question 3

Payment equal to a percent of the amount of goods or services that an employee sells for a company.

Answer 3

Commission

Question 4

Amount by which the regular price of an item is reduced or marked down.

Answer 4

Discount

Question 5

Payment for a service. It can be a fixed amount, a percent of the charge, or both. Unlike a tip (or “gratuity”) which is optional and the amount is up to the customer’s discretion, this amount is usually a set amount that the customer is required to pay.

Answer 5

Fee

Question 6

A thing that is borrowed, especially a sum of money that is expected to be paid back with interest.

Answer 6

Loan

Question 7

The amount paid or earned for the use of a principal.

Answer 7

Interest

Question 8

The amount by which the regular price of an item is reduced.

Answer 8

Markdown

Question 9

The amount the price of an item is increased above the price the store paid for it.

Answer 9

Markup

Question 10

Ratio that compares the inaccuracy of an estimate (amount of error) to the actual amount.

Answer 10

Percent Error

Question 11

A ratio that compares the change in a quantity from the original amount. The equation for this term is “Amount of Change (÷) Original Amount (×) 100”

Answer 11

Percent of Change

Question 12

A negative percent of change.

Answer 12

Percent of Decrease

Question 13

A positive percent of change.

Answer 13

Percent of Increase

Question 14

Amount of money deposited or borrowed.

Answer 14

Principal

Question 15

Additional amount of money charged on items people can buy.

Answer 15

Sales Tax

Question 16

Amount customer pays for an item.

Answer 16

Selling Price

Question 17

Amount paid or earned for the use of money. Formula for this term is “i=prt”.

Answer 17

Simple Interest

Question 18

Small amount of money paid for a service. Also known as gratuity.

Answer 18

Tip

Question 19

Amount the store pays for an item.

Answer 19

Wholesale Cost

Question 20

Numerical factor of a term that contains a variable.

Answer 20

Coefficient

Question 21

A term that does not contain a variable.

Answer 21

Constant

Question 22

To write a number as the product of its factors.

Answer 22

Factor

Question 23

An expression expressed as the product of its factors.

Answer 23

Factored Form

Question 24

The greatest monomial that is a factor of both monomials. This term also includes any variables that the monomials have in common.

Answer 24

Greatest Common Factor

Question 25

Terms that contain the same variable raised to the same power. Example: '5x' and '6x'

Answer 25

Like Terms

Question 26

An algabraic expression in which the variable is raised to the first power, and variables are neither multiplied nor divided.

Answer 26

Linear Expression

Question 27

A number, variable, or product of a number and one or more variables.

Answer 27

Monomial

Question 28

When an expression is replaced by an equivelant expression having no like terms or parentheses. For example, the fraction 20/4 would be written as 4/1, or 4.

Answer 28

Simplest Form

Question 29

Each part of an algabraic expression separated by an addition or subtraction sign.

Answer 29

Term

Question 30

A quantity obtained by multiplying numbers together.

Answer 30

Product

Question 31

The result of dividing one number by another

Answer 31

Quotient

Question 32

The total amount resulting from the addition of two or more numbers, amounts, or items.

Answer 32

Sum

Question 33

Refers to the result you get when you subtract one number from another

Answer 33

Difference

Question 34

Mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of general government services, goods, and activities.

Answer 34

Tax