Semester 2 Final

What is a wage?

• A wage is a form of transportation
• A wage is a musical instrument
• A wage is a type of fruit
• A wage is a payment or compensation given to an employee by an employer in exchange for work done.

What is commission based on?

• Time of day
• Number of employees
• Based on the weather
• Percentage of sales or fixed amount per sale

What is a dividend?

• A dividend is a form of insurance provided to shareholders by the company.
• A dividend is a tax imposed on shareholders by the government.
• A dividend is a sum of money paid regularly (typically quarterly) by a company to its shareholders out of its profits or reserves.
• A dividend is a type of loan taken by a company from its shareholders.

What is salary?

• Salary is a gift from family members
• Salary is a type of fruit
• Salary is a form of transportation
• Salary is a fixed regular payment made by an employer to an employee for work done.

What is one positive thing about commission-based work?

• Higher earnings potential
• Higher stress levels
• Inconsistent income
• Limited growth potential

What does it mean to invest your money?

• To invest your money means to put it into financial products, real estate, or a business with the expectation of generating income or profit over time.
• To invest your money means to bury it in your backyard
• To invest your money means to spend it all on luxury items
• To invest your money means to give it away to strangers

What are taxes?

• Taxes are mandatory financial charges imposed on individuals or entities by the government to fund public expenditures.
• Taxes are voluntary contributions to the government.
• Taxes are used for personal savings.
• Taxes are only paid by businesses.

What are some common taxes people pay?

• Income tax, property tax, sales tax, payroll tax
• Excise tax
• Estate tax
• Tariff tax

What was used before currency?

• Gold coins
• Barter system
• Credit cards
• Cryptocurrency

These taxes come out of a person's paycheck and is meant to help people once they retire.

• Social Security taxes
• Property taxes
• Income taxes
• Sales taxes