8th SS - Unit 16 Review (SS8E2, SS8E3) Question Preview (ID: 50307)


Unit 16 (SS8E2, SS8E3). TEACHERS: click here for quick copy question ID numbers.

A tax on a purchase is known as:
a) sales tax
b) property tax
c) ad valorem tax
d) income tax

A tax on a person's income is known as:
a) income tax
b) sales tax
c) ad valorem tax
d) property tax

Interest charged on money that is owed is called:
a) credit
b) income
c) taxes
d) investing

Money that is owed is called:
a) debt
b) income
c) spending
d) credit

Having a budget is important for a citizen?
a) TRUE
b) FALSE
c) ####
d) ###

Keeping money to use in the future is called:
a) saving
b) spending
c) credit
d) investing

Money earned from work is called:
a) income
b) savings
c) spending
d) taxes

Manufacturing and technology are:
a) important to Georgia's economy
b) not utilized in Georgia
c) decreasing in the Southeastern U.S.
d) only seen in urban areas in Georgia

What is the number one industry in Georgia?
a) agriculture
b) aviation
c) technology
d) gold mining

Entrepreneurs:
a) take risks
b) never take risks
c) always make money
d) never make money

Profit is the money made:
a) after the expenses are taken out
b) before the expenses ar etaken out
c) ###
d) ####

An entrepreneur is a person who:
a) starts a business
b) always makes money
c) works for a gigantic corporation
d) is unable to work for minimum wage

A tax on a piece of property (such as a car or home) is known as:
a) property tax
b) sales tax
c) ad valorem tax
d) income tax

How can an individual avoid debt?
a) having a budget in place
b) owning a business
c) not paying taxes
d) maintaining multiple credit cards

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