
SS Final Review
Authored by Miriam Morillo
Social Studies
7th Grade

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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
1. Which describes the total of a person’s earnings when they get a job?
CREDIT
INCOME
INVESTMENT
SAVINGS
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which is the MOST LIKELY result from an increase in income?
increased spending
increased use of credit
cashing out investments
decline in savings and investments
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which is a plan for saving and spending?
budget
checking account
savings account
will
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What type of bank account is most linked to spending?
checking
investment
mutual fund
savings
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is the most common use of credit?
keeping cash hidden in your closet
spending money from your piggy bank
using “birthday money” to make a purchase
borrowing money from a stranger with a promise to pay back more than you borrowed
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which is MOST LIKELY to be used in the US to become a homeowner?
paying in cash
getting the house as a gift
borrowing most of the money
money from winning the lottery
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the difference between income and expenses?
Income is money that is earned, while expenses are spending money.
Income is saving money, while expenses are investing money.
Income is spending money, while expenses are earning money.
Income is earning money, while expenses are saving money.
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