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8th SS - Unit 16 Review (SS8E2, SS8E3)
Test Description: Unit 16 (SS8E2, SS8E3)
Instructions: Answer all questions to get your test result.
1) An entrepreneur is a person who:
A
starts a business
B
always makes money
C
is unable to work for minimum wage
D
works for a gigantic corporation
2) Profit is the money made:
A
###
B
####
C
before the expenses ar etaken out
D
after the expenses are taken out
3) Entrepreneurs:
A
take risks
B
never take risks
C
never make money
D
always make money
4) What is the number one industry in Georgia?
A
technology
B
gold mining
C
agriculture
D
aviation
5) Manufacturing and technology are:
A
only seen in urban areas in Georgia
B
not utilized in Georgia
C
important to Georgia's economy
D
decreasing in the Southeastern U.S.
6) Money earned from work is called:
A
taxes
B
income
C
spending
D
savings
7) Having a budget is important for a citizen?
A
####
B
###
C
FALSE
D
TRUE
8) Keeping money to use in the future is called:
A
credit
B
spending
C
saving
D
investing
9) Money that is owed is called:
A
debt
B
spending
C
credit
D
income
10) Interest charged on money that is owed is called:
A
income
B
credit
C
investing
D
taxes
11) A tax on a person's income is known as:
A
property tax
B
sales tax
C
ad valorem tax
D
income tax
12) A tax on a purchase is known as:
A
sales tax
B
property tax
C
ad valorem tax
D
income tax
13) A tax on a piece of property (such as a car or home) is known as:
A
ad valorem tax
B
income tax
C
property tax
D
sales tax
14) How can an individual avoid debt?
A
not paying taxes
B
owning a business
C
having a budget in place
D
maintaining multiple credit cards
*select an answer for all questions
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