Economics GSE Question Preview (ID: 41969)


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Money that you earn is known as what?
a) Revenue
b) taxes
c) income
d) savings

How do entrepreneurs take risks?
a) they put money up to create their idea
b) their idea may not make money
c) they may risk something important, like a home, for their business
d) All of the above

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) income
c) taxes
d) investment

Why is it beneficial to have a budget?
a) In case you win the lottery
b) to prevent unnecessary spending
c) to avoid taxes
d) to help the economy

How do Georgia's highways and the Interstate Highway system help its ecomony?
a) By providing jobs for Georgians
b) To make it faster to get through Georgia
c) to avoid tolls
d) by providing a variety of ways to travel

Name the four transportation systems
a) Hartsfield Jackson International Airport, Insterstate Highway system, deepwater ports, railroads
b) Marta, Red Rabbit, Cobb Transit Authority
c) walking, running, swimming, flying
d) planes, trains, automobiles

Chick fil a, Coca Cola, Delta, and Home Depot are examples of what?
a) Georgia based businesses
b) Fortune 500 companies
c) Businesses that are all closed on Sunday
d) Popular chain restaurants

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) Make Georgia outsource jobs
c) Competition forces prices to be reduced
d) Allows teenagers to start working legally at 12 years old

Money that is owed to another person or business?
a) Debt
b) Income
c) Savings
d) Spending

A financial plan to account for all of your money, to prevent unneccessary spending, and to save for future plans or events
a) Budget
b) Debt
c) Income
d) Economics

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