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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
always makes money
B
is unable to work for minimum wage
C
works for a gigantic corporation
D
starts a business
2) Profit is the money made:
A
###
B
after the expenses are taken out
C
####
D
before the expenses ar etaken out
3) Entrepreneurs:
A
always make money
B
never take risks
C
take risks
D
never make money
4) What is the number one industry in Georgia?
A
aviation
B
agriculture
C
gold mining
D
technology
5) Manufacturing and technology are:
A
important to Georgia's economy
B
decreasing in the Southeastern U.S.
C
not utilized in Georgia
D
only seen in urban areas in Georgia
6) Money earned from work is called:
A
savings
B
income
C
taxes
D
spending
7) Having a budget is important for a citizen?
A
####
B
FALSE
C
TRUE
D
###
8) Keeping money to use in the future is called:
A
investing
B
spending
C
credit
D
saving
9) Money that is owed is called:
A
debt
B
income
C
spending
D
credit
10) Interest charged on money that is owed is called:
A
investing
B
income
C
taxes
D
credit
11) A tax on a person's income is known as:
A
ad valorem tax
B
property tax
C
income tax
D
sales tax
12) A tax on a purchase is known as:
A
sales tax
B
ad valorem tax
C
income tax
D
property tax
13) A tax on a piece of property (such as a car or home) is known as:
A
income tax
B
property tax
C
sales tax
D
ad valorem 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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