NEW
Font size
WorksheetsUnit 6: NC's Economy
Total questions: 21
Worksheet time: 8mins
an economic decision where someone sacrifices, or gives up, certain things to get other things.
opportunity cost
trade-off
loan
finance
What people decide to give up in order to get something else is called the...
opportunity cost
trade-off
loan
finance
something that people would like to have
want
need
A ___ resource cannot be made again quickly by nature or people.
renewable
want
nonrenewable
financial
A ___ resource can be made again by nature or people.
renewable
want
nonrenewable
financial
___ is the protection and careful use of natural resources.
Renewable resources
Recycling
Capital resources
Conservation
___ is the way people in a state, region, or country use resources to meet their needs.
Social
Politics
Economy
Conservation
In this kind of economy, people are free to start and run their own businesses with only limited control by the government.
freedom economy
limited economy
free enterprise economy
capital economy
a person who organizes and runs a business
business
entrepreneur
capital resource
economy
Which is NOT one of the three factors of production?
human resources
finance
capital resources
natural resources
This NC city is the second-leading finance center in the United States...
Charlotte
New Bern
Raleigh
Chapel Hill
use or management of money
loan
free enterprise economy
economy
finance
a tax based on how much a person earns and is collected by the national government and by some state governments.
interest
free enterprise economy
income tax
finance
tax that is charged on land and buildings.
interest
property tax
income tax
finance
the money a bank or a borrower pays for the use of money
interest
property tax
income tax
finance
Income is...
the money a person makes from their job
a savings account
a bank account
a business
By law, governments in the United States must be able to show ____________________ how tax money is _____________.
citizens, spent
law officials, spent
politicians, wasted
the US President, saved
North Carolina’s state government provides services for people who live in North Carolina.
False
True
Synthetic fibers are made from...
animal furs.
plants.
chemicals.
depending on one another for products
interdependence
dependence
import
export
The division of labor is the increase of production or work into different jobs or tasks.
True
False
