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Module 2 Summary

1. Module 2 Summary

Mathematics 30-3 Module 2

Module 2 Summary

 

This is a picture of a hand with a pen filling in a form and another hand using a calculator.

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In this module you explored the financial issues involved with a small business. In particular, you investigated

  • decisions involved with deciding if a particular business is feasible
  • financial calculations for day-to-day operations
  • financial calculations involved with buying or leasing a vehicle

You also learned strategies for solving mathematical puzzles.

 

In the Module 2 Project: Owning and Operating a Small Business, you explored the feasibility and costs of some aspects of a small business.

 

The following table summarizes the topics learned in this module:

 

Owning and Operating a Small Business
  • A business plan should be feasible before a new business is started.
  • Businesses will have some start-up costs and operating expenses.
  • Businesses will need to generate revenue to be successful.
  • Paying attention to revenues and expenses will help a business to become profitable.
Buying or Leasing a Vehicle
  • When purchasing, you finance the full amount. With leasing, you finance the depreciated amount.
  • When purchasing, you own the vehicle at the end of the loan period. With leasing, you do not own the vehicle at the end of the lease.

Puzzles

Puzzles can be solved using a variety of strategies. Some of these include

  • drawing a picture
  • looking for patterns
  • guessing and checking
  • making a list
  • eliminating possibilities
  • working backwards
  • simplifying or rewording the original problem