Personal Finance & Economics Review

Fur-Fari Dog Groomers bathes dogs. When the dog groomer buys shampoo, what role does he have in the economic system?

• Producers
• Productive 
• Consumers
• Comparative 

There are different types of taxes, such as income tax and sales tax. What is tax?

• Money collected by the government
• A plan for using money
• A car that carries passengers for money
• The buying and selling of products 

Which of the following is an example of economics?

• A.  The United States buys oil for use at home from other countries. 
• A.  The government of the United States is divided into three branches.
• A.  The United States declared its independence from Great Britain.
• A.  The people of the United States come from many different places.

Which are usually built by the government with tax money?

• Factories
• Barber shops
• Roads
• Grocery stores

Which of the following buildings would MOST LIKELY be paid for by tax money?

• Bakery
• Gas station
• Shopping mall 
• Elementary school

Why do members of a community have to pay taxes?

• To pay for services provided by the government
• So that people do not have to pay for their family's groceries
• To pay for everything people want
• So that people can buy a new car

All of the following are paid for by taxes EXCEPT

• The police force
• The fire department
• Beauty shop
• Parks 

Which one of these is the BEST example of a person wanting to be an entrepreneur of a service?

• Veronica buying lemonade at the neighborhood pool
• Casey donating her toys to charity 
• Dillion trading his baseball cards
• Sarah pet sitting her neighbor's pets for a price 

What are some examples of Human Resources?

• Oil, water, plants
• Skills, knowledge, labor 
• Machines, tools, buildings
• Producers, consumers, taxes

What one lists examples of Natural Resources?

• Producers, consumers, taxes
• Machines, tools, buildings
• Oil, water, plants
• Skills, knowledge, labor