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