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Economics GSE
Test Description: Econ
Instructions: Answer all questions to get your test result.
1) Money that you earn is known as what?
A
savings
B
Revenue
C
taxes
D
income
2) How do entrepreneurs take risks?
A
their idea may not make money
B
All of the above
C
they may risk something important, like a home, for their business
D
they put money up to create their idea
3) Zachary and RC run a lemonade stand. They spend 200 dollars on lemons, sugar, and cups. They make four hundred dollars. The money left over is known as what?
A
profit
B
taxes
C
investment
D
income
4) Why is it beneficial to have a budget?
A
In case you win the lottery
B
to help the economy
C
to prevent unnecessary spending
D
to avoid taxes
5) How do Georgia's highways and the Interstate Highway system help its ecomony?
A
To make it faster to get through Georgia
B
By providing jobs for Georgians
C
to avoid tolls
D
by providing a variety of ways to travel
6) Name the four transportation systems
A
Hartsfield Jackson International Airport, Insterstate Highway system, deepwater ports, railroads
B
Marta, Red Rabbit, Cobb Transit Authority
C
planes, trains, automobiles
D
walking, running, swimming, flying
7) Chick fil a, Coca Cola, Delta, and Home Depot are examples of what?
A
Georgia based businesses
B
Popular chain restaurants
C
Fortune 500 companies
D
Businesses that are all closed on Sunday
8) How do agriculture, entertainment, manufacturing, service, and technology industries help Georgia's economy?
A
They all provide jobs for Georgians and bring money into our state
B
Allows teenagers to start working legally at 12 years old
C
Make Georgia outsource jobs
D
Competition forces prices to be reduced
9) Money that is owed to another person or business?
A
Spending
B
Savings
C
Income
D
Debt
10) A financial plan to account for all of your money, to prevent unneccessary spending, and to save for future plans or events
A
Economics
B
Budget
C
Debt
D
Income
*select an answer for all questions
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