Module 1-2 Vocab

1. the ratio between two directly proportional quantities
3. an extra amount of money given as a reward for service, typically calculated as a percentage of the total bill
5. quantifies the relative difference between two values, expressing the increase or decrease as a percentage of the original value
9. a rate for one of something
10. a relationship where the ratio of output to input values is not constant
13. a fee paid for borrowing money or other assets
15. the difference between the selling price and operating expenses
16. sales tax = purchase price x sales tax rate
17. the amount of decrease in a quantity, expressed as a percentage of the original value
18. the amount of money borrowed or invested, on which interest is calculated
19. a percentage of total sales as determined by the rate of commission

2. exists between two variables where their ratio is always constant
4. the difference between a measured, estimated, or calculated value and the true or accepted value
6. an initial charge or cost for a service or product
7. the amount of increase in a quantity, expressed as a percentage of the original value
8. two quantities have a constant ratio or relationship
11. an equation stating that two ratios are equal
12. measures the difference between an estimated or measured value and the actual or accepted value, expressed as a percentage of the actual value
14. a reduction in the price of a product or service, often expressed as a percentage of the original price
15. a reduction in the selling price of a product, expressed either as a percentage or a fixed amount