Social Studies Final Exam Review- 7th Grade

What is income?

• Money that you earn and can spend
• Money loaned to you
• A mortgage
• A credit card

A credit score is between...

• 500-1000
• 600-900
• 300-800
• 900-2000

What is a mortgage?

• Taxes
• A loan on a house
• Money saved
• Money earned

When should you use a credit card?

• In an emergency
• Never
• To buy what you want
• All the time

To default means...

• Not being able to use credit
• Paying your loan
• Not being able to pay off your loan
• To get a loan

Interest is...

• Saved money
• Extra Money
• Spent money
• A loan

A loan is...

• Money spent
• Money saved
• Money advanced to you
• Not important

Banks look at your ___ before giving you a loan.

• Credit score
• Home
• Car
• Income

Capital Goods

• Free economy
• Goods used in making other goods
• Government control
• Knowledge

A tax on imported goods

• Physical Trade Barrier
• Embargo
• Quota
• Tarriff