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Financial knowledge quiz for entrepreneurs

Question 1 of 10
1.

By using unit pricing at a store, you can easily compare the cost of any brand and any package size.

Correct!

Using the unit price of a product, you can effectively compare the cost of different product sizes and brands.

The unit price is the cost of an individual unit of a product (for example, the price per gram, per litre, per piece). By comparing unit prices, you can determine which option is the least expensive.

Let's say you're comparing two brands of oat cereal. One is $4.99 for 400 grams and the other is $6.99 for 450 grams.

Looking at the price per 100 grams:

  • The first option costs $1.25 per 100 grams.
  • The second option costs $1.55 per 100 grams.

It's clear which option is less expensive.

Incorrect.

The correct answer is A.

Using the unit price of a product, you can effectively compare the cost of different product sizes and brands.

The unit price is the cost of an individual unit of a product (for example, the price per gram, per litre, per piece). By comparing unit prices, you can determine which option is the least expensive.

Let's say you're comparing two brands of oat cereal. One is $4.99 for 400 grams and the other is $6.99 for 450 grams.

Looking at the price per 100 grams:

  • The first option costs $1.25 per 100 grams.
  • The second option costs $1.55 per 100 grams.

It's clear which option is less expensive.

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