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SS8E1-SS8E5
Economic Understanding
| Question | Answer |
|---|---|
| What is an example of a service industry ? | tourism |
| Which invention had the greatest effect on Georgia's economy in the early 1800s ? | cotton gin |
| Taxes on imported goods are known as ? | tariffs |
| When Georgia trades peanuts to China in exchange for toys, | both countries gain |
| The trade policy of Great Britain during the period of colonization was called | mercantilism |
| How did the colonies benefit Great Britain economically ? | the colonies enabled Great Britain to manufacture goods to sell to other countries |
| How does international trade affect Georgia's economy ? | its has strengthened the state's economy and provides thousands of jobs |
| A motivating factor for entrepreneurs is their desire to | maximize their profit and gain wealth |
| What was the economic base of Georgia and the Southern colonies during the colonial period ? | rice.indigo,wheat,and forest products |
| What factor LEAST contributes to the success of an entrepreneur ? | family money |
| What entrepreneur is associated with Coca-Cola? | John S. Pemberton |
| Perhaps the GREATEST risk taken by the makers of Coca-Cola in an effort to increase their profit was a decision to change the soft drink's | advertising |
| Where did the company that became Delta Airlines begin? | Macon |
| Who were the entrpreneurs who founded the Home Depot warehouse stores? | Bernie Marcus and Arthur Blank |
| Georgia-Pacific does NOT manufacturer what product? | pesticides |
| What company, founded in Augusta in 1927, is one of the world's leading manufacturers of paper and building products? | Atlantic Station |
| John Pemberton, Truett Cathy, and Ted Turner are all founders of important Georgia businesses. What is another name of a founder of a company? | entrepreneur |
| What is Capital ? | money used to invest in business |
| What is Credit ? | An arrangement to receive cash, goods, or services now and pay for them in the future. |
| What is Services ? | Actions or activities that one person performs for another. Intangible things of value (haircuts, maid service, laundry, education, etc.) |
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