Georgia Economy 3 Vocabulary Quiz

Choose the correct definition of income.

• money that is lost from economic choices

• money that is given to charity

• money that is earned from work or investments

• money that is paid for goods and services

Read the definition. Then choose the vocabulary term defined. The payment an employee receives.

• budget

• fee

• interest

• salary

Choose the correct definition of career.

• the school that someone attends for a specific course of study

• the job or profession that a person does for a long period of their life

• the school that someone attends for a long time

• the job or profession that someone does to get a start in a field

Choose the correct definition of retire.

• to end a career or cease to work

• to begin a career or start to work

• to change a career or find new work

• to continue a career and earn a promotion at work

Choose the correct definition of budget.

• a tool for planning and keeping track of how much money is saved and how much is spent

• a tool for increasing income and costs

• a tool for making decisions about jobs or careers

• a tool for finding more resources to produce goods and services.

Choose the correct definition of income.

• money that is lost from economic choices

• money that is given to charity

• money that is earned from work or investments

• money that is paid for goods and services

How much income someone is likely to earn based on his or her education, skills, and experience.

• expenditure

• budget

• earning potential

• interest

Choose the correct definition of savings.

• the money an employee receives

• money put away to use or spend at a later time

• something that is owed, typically money

• any money spent on something

Choose the correct word or phrase to complete the dictionary entry. Vocabulary Term: expenditure. Definition: any money ______ something.

• A) spent on

• B) saved by

• C) earned with

• D) found through

Choose the correct definition of retire.

• to end a career or cease to work

• to begin a career or start to work

• to change a career or find new work

• to continue a career and earn a promotion at work