Week 4 - Earning Income Review

What is the primary function of a bank?

• To sell products

• To hold customers' money

• To provide loans

• To invest in stocks

What are the two types of banks?

• Commercial and savings

• Private and public

• Local and international

• Online and offline

What is a fee charged for borrowing money?

• Rent

• Salary

• Taxes

• Interest

What form of income is a fee for using property?

• Debt

• Interest

• Loan

• Rent

What is an example of earning income through commission?

• A teacher's salary

• A real estate agent's earnings

• A bank loan

• A savings account

Fill in the blank: Taxes pay for ______ services.

• Private

• Public

• International

• Personal

Fill in the blank: ______ taxes are based on how much income you earn every year.

• Property

• Sales

• Federal income

• State income

Fill in the blank: ______ income taxes are taxes you pay to the state you live in.

• Federal

• State

• Local

• National

Which of the following is a service provided by taxes?

• Building private homes

• Maintaining local parks

• Running private businesses

• Selling goods

What is not paid for by taxes?

• Firefighters

• Houses

• Libraries

• Roads