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WorksheetsEconomics Review 2025
Total questions: 23
Worksheet time: 12mins
Why is tourism such a large employer in the state of Georgia today?
GA has little else besides tourism
GA has put all its money into tourism
GA is the most popular state to visit in the Southeast
GA has great geographic diversity, making it an ideal place to visit
One of the fastest growing industries in the state of GA because of the diversity of locations and financial tax incentives offered by the state of GA.
the airport
the film industry
the port of GA
the farming industry
Who are entrepreneurs?
a person who organizes and operates a business, taking on a financial risk in order to do so
one of the 50% of all businesses that fail within the first 5 years
people who are always successful at any business they start
a person who is guaranteed to be successful when they start a new business
The first thing you need to create a budget is....
your tax information
a spreadsheet
your expenses
your income
A new video game is coming out that you want to buy. Which is the BEST financial choice of you buying the game?
Get a loan from your Grandparents with low interest
put the money in a savings account and wait until you have the money to pay for it
ask the store if they will loan you the money to pay for it
buy it on a credit card and just pay it off in the minium monthly payments
What is a budget?
A plan to use income.
Amount of money that must be paid
personal promise to pay something
amount of money that is being saved
What is the advantage of spending less than you earn?
You never have to worry about money
You don't have to sacrifice any purchases
You can save money for future purchases
You will have lower bills
What can ALL people do to BEST manage their money?
avoid paying their bills
put money in a savings account
make a personal budget
get a high paying job
Which quote BEST represents why a personal budget is important?
"What we obtain too cheap, we esteem too lightly" Thomas Paine
"Beware of little expenses. A small leak will sink a great ship" Benjamin Franklin
"Let justice be done though the heavens may fall" John Adams
"Is life so dear or peace so sweet as to be purchased at the price of chains?" Patrick Henry
By including this in the film's credits, a production company may earn an additional 10% tax credit.
Signature of the current governor
List of Georgia businesses used in the production
Filmed in Georgia logo (a peach)
List of locations filmed in Georgia
Which is an example of an entrepreneur?
Employee of a small business
Board Member of a large corporation
Owner of a business
Chief Executive Officer of a large corporation
What are the 2 main parts of a budget? Check all that apply.
expenses
credit
interest
savings
income
Match the personal finance term with the definition:
Net Pay
take-home pay
Gross Pay
money you earn before deductions
Credit Card
buy now, pay later
Budget
plan for how you will use your money
Income
money you receive from performing a job or providing a service
What is the difference between income and profit?
profit is what is left over after expenses are subtracted from income
income is the amount we have after paying bills
income and profit are the same thing, they are not different
profit is similar to a salary, while income is not
Which phrase describes a significant risk associated with mishandling credit?
receiving higher credit scores
paying more sales tax
paying higher interest rates
receiving more credit card offers
What is a risk involved in using a credit card often?
earning rewards like cash back on purchases
spending more than planned in a budget
limiting the kinds of goods that can be bought
building a record of paying on time
Which of these is an example of borrowing money?
Derrick bought a bicycle to ride to work
Bea made a gift using materials in her home
Angel made a purchase with a credit card
Collin deposited a check at the bank
When banks lend money to borrowers, they charge an additional fee for the use of their money. What is this fee called?
stock
debit
credit
interest
Maria's parents are planning for their retirement, a time when they will stop working. Why is planning important for Maria's parents?
they can get a credit card
they can begin to pay taxes
they can learn skills for work
they can have enough savings
Which is an example of a financial institution?
a department store, like Macy's, Dillards, or Belk
an ATM machine
a bank like Wells Fargo or Truist
a school, like Rising Starr Middle School or Starr's Mill High School
Monica makes sure that she spends less than she makes at her job each week. How does Monica's plan help her finances?
She can avoid going into debt
She can pay less taxes
She can pay for all the goods she wants
She can earn more money at her job
Which of these occurs when a person does not pay his/her monthly credit card bill in full?
the account is closed
the account is charged interest
the due date is changed
the spending limit is raised
Choose the THREE examples that show the purpose of paying taxes.
build a new McDonalds
build public schools
Pay salaries of government employees
improve roads
build a new Chick-fil-a
