Economics & Financial Literacy Unit Review

Which of the following is a renewable resource?

• coal

• mica

• oil

• wind

What kind of resource is a raw material?

• capital

• human

• market

• natural

Read about Emily in the text box. What kind of economic decision did Emily make?

• business choice

• conservation

• factors of production

• trade-off

Read about Emily in the text box. What was the opportunity cost of Emily’s decision?

• the pizza

• the DVD

• the popcorn

• money

Which of the following is an example of a capital resource?

• bank manager

• computer

• electricity

• water

How do people help conserve North Carolina’s forests?

• by recycling glass bottles

• by planting trees

• by using hydroelectricity

• by cleaning air pollution

Which of these is a nonrenewable resource?

• minerals

• trees

• water

• wind

For which of the following activities do people earn interest?

• saving money in a bank

• investing money in a business

• spending money on a new house

• borrowing money from a bank

Which of these taxes is based on what a person earns?

• import tax

• income tax

• property tax

• sales tax

Which level of government uses tax money to pay for postal service?

• county

• national

• municipal

• state