Starter quiz

  • Pick the word to complete the sentence: Money that is taken from what people earn is called ______.
    • Budget
    • Deficit
    • Earning
    • Tax  ✓
  • Value added tax is money added to some goods and services that we buy. It is added to items that we ______.
    • Need rather than want.
    • Want rather than need.  ✓
  • Is VAT added to the cost of children’s clothes?
    • Yes
    • No  ✓
  • Which of these would be funded by taxes?
    • Holidays
    • NHS  ✓
    • Armed forces  ✓
    • Online games
  • True or false: School books are free.
    • True
    • False ✓
  • Someone pays 20% income tax on their taxable earnings and they pay £3,000 in tax. Which amount shows their taxable earnings?
    • £10,000
    • £13,000
    • £15,000  ✓
    • £20,000
+