7th Grade Civics Final

In the budget above, what does Column 1 represent?

According to the budget, does the student have a surplus or a deficit? Explain how you figured this out.

Command Economy

• When customs and habit answer economic questions

• When the government agencies answer economic questions

• The payment people receive when they lend money

• A part of the purchase price that must be paid first and the rest can be paid in increments.

Economic system

• Way of determining how to produce things it's people want and need

• When customs and habit answer economic questions

• When the government overseas market functions and provides some serves and people make other choices based on habit and custom.

• An employment form required by law that you complete so that your employer can determine the proper amount to withhold from your paycheck

Market economy

• Economic questions are answered by individualsand businesses

• When customs and habit answer economic questions

• When the government overseas market functions and provides some serves and people make other choices based on habit and custom.

• An employment form required by law that you complete so that your employer can determine the proper amount to withhold from your paycheck

Mixed Market Economy

• Economic questions are answered by individualsand businesses

• When customs and habit answer economic questions

• When the government overseas market functions and provides some serves and people make other choices based on habit and custom.

• An employment form required by law that you complete so that your employer can determine the proper amount to withhold from your paycheck

Traditional Economy

• Economic questions are answered by individualsand businesses

• When customs and habit answer economic questions

• When the government overseas market functions and provides some serves and people make other choices based on habit and custom.

• An employment form required by law that you complete so that your employer can determine the proper amount to withhold from your paycheck

Tax Refund

• Economic questions are answered by individualsand businesses

• A check returning the taxpayer's money to the taxpayer after tax returns are filled and the overpaid tax is determined.

• When the government overseas market functions and provides some serves and people make other choices based on habit and custom.

• An employment form required by law that you complete so that your employer can determine the proper amount to withhold from your paycheck

W-4

• Economic questions are answered by individualsand businesses

• A check returning the taxpayer's money to the taxpayer after tax returns are filled and the overpaid tax is determined.

• When the government overseas market functions and provides some serves and people make other choices based on habit and custom.

• A statement of an individual's annual wages and taxes provided by an employer that must be included with the employee's federal, state, and city income tax returns.

W-2

• Economic questions are answered by individualsand businesses

• A check returning the taxpayer's money to the taxpayer after tax returns are filled and the overpaid tax is determined.

• When the government overseas market functions and provides some serves and people make other choices based on habit and custom.

• An employment form required by law that you complete so that your employer can determine the proper amount to withhold from your paycheck