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