PERSONAL FINANCE

VOCABULARY (Use a computer or dictionary to define) Entrepreneur Profit Sales Tax Income Tax Property tax Credit Invest Interest Incentive

I. Entrepreneurship

I. Entrepreneurship Entrepreneur – person who takes a risk to develop new goods and services by starting a business. The incentive to take such risks is the opportunity for profit.

I. Entrepreneurship Examples of Georgia-based businesses include: Coca-Cola Delta Airlines Georgia-Pacific Home Depot

I. Entrepreneurship These businesses provide jobs for thousands of Georgians and a tax base for Georgia’s government to provide services for citizens.

II. Three Levels of Taxes and Services

III. Three Levels of Taxes Federal Tax Collection Federal Service Distribution

III. Three Levels of Taxes State Tax Collection State Service Distribution

III. Three Levels of Taxes Local Taxes Collection Local Service Distribution

III. Financial Choices

III. Financial Choices Interest – money received in exchange for the right to borrow money. This can be positive or negative. Credit – borrowing money to pay off an item. This requires that you pay interest. Invest – letting somebody else (bank, company) borrow money. They pay you interest(dividends).