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SS8E1-SS8E5

economy

What do Naval Stores contain? turpentine, rosin, tar, and pitch
Which invention had the greatest effect on Georgia's economy in the early 1800s? cotton gin
What is the difference between trade and bartering? trading is an exchange among people and countries, bartering is the actual exchange without the use of money.
What are cash crops? crops grown to be sold rather than simply consumed
During the colonial period, England practiced the system of ... mercantilism
What is an export? a product a country sells to another country
In the colonial period, What system did England practice? mercantilism
What is the system of economy? growing, making, selling, buying, and using goods and services.
What is profit? the amount left after all production costs have been subtracted.
What kind of people are Entrepreneurs? creative, innovative thinkers, and risk takers.
Entrepreneurs risk limited resources to produce innovative goods and services i the hope they will earn? profit.
What entrepreneur is associated with Coca-Cola? John S. Pemberton
What is an example of a service industry? shipbuilding
Where did the company that became Delta Airlines begin? Monroe
Most of Georgia's revenue comes from which type of tax? income taxes
Georgia's counties collected a percentage of their revenues from property taxes. What was the approximate percentage? 36%
The largest percentage of state funds is spent on? education
define savings. The income that a person has not spent after buying things he or she wants.
define investing. Involves putting money aside in order to receive a greater benefit in the future.
define interest. a fee for the use of money.
Created by: layla.ballard
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