Economics Summative Study Guide SY 22-23

Which is a human resource?

• tools

• tree

• teacher

• book

Which type of resource is a tree?

• capital

• human

• entrepreneur

• natural

Which type of resource are tools?

• capital

• human

• entrepreneur

• natural

Which is a human resource?

• someone who returns items to a store

• a consumer

• someone who visits

• someone who works (provides labor) for a business

Why is it "risky" to be an entrepreneur?

• An entrepreneur could lose everything (all their money)

• An entrepreneur will ALWAYS succeed and make money.

• An entrepreneur pays more taxes.

• An entrepreneur combines types of resources to start a business.

Which is an entrepreneur?

• working for someone else

• buying things

• starting your own business to make money

• telling your sister to sell your stuff

Why do governments collect taxes?

• to take away rights

• to make sure laws are followed

• to provide goods and services

• to support churches

How are parks paid for?

• tax money

• kids buy them

• girl scout cookies

• Santa Claus

Who provides money to pay firefighters and police officers?

• donators

• charities

• private companies

• taxpayers

If Georgia grows a lot of peaches and Florida grows a lot of oranges, how could they help one another?

• trade the fruits

• tax the fruits

• eat the fruits

• donate the fruits to charity