Unit 1 Personal Finance and Vocabulary

What are the halves of the earth called, that use the lines of latitude and longitude that divide it?

• nations
• climate
• equator
• hemispheres

A land mass inhabited by people who share a common territory and government is called a _______________.

• World
• Continent
• Nation
• United States

A person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so is called a ____________________________.

• Business
• Director
• Entrepreneur
• Processing Manger

When a person comes up with a new and creative idea, that idea could be called ________________.

• New
• Old
• Innovative
• A great concept

Revenue minus expenses equals a businesses _________.

• Profit
• Mortgage
• Interest
• Debt

When you are discussing the climate of Georgia with a friend you are talking about the average temperature, rainfall, and storms during a period of time.

• True
• False

The effect that an event, policy change, or market trend will have on economic factors such as interest rates, consumer confidence, stock market activity, or unemployment is known as ____________________.

• Increase in profit
• Economic impact
• Decrease in expenses
• Market activity knowledge

When a company receives money from a sale, it is know as _______________.

• Debt
• Credit
• Revenue
• Interest

A plan for spending money is also known as a _________.

• Debt
• Credit
• Income
• Budget

You decided to get a part time job after school. When you get your first paycheck you are so excited because you now have an _____________.

• Debt
• Interest
• Budget
• Income