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Personal Finance. Unit 13 – Georgia Produces; Georgia’s Trade; Starting a Business; Sources of State Revenue; Personal Money Management. Trade in Georgia. Trade in Colonial times was with Native Americans and shipping goods back to Europe. .

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personal finance

Personal Finance

Unit 13 – Georgia Produces; Georgia’s Trade; Starting a Business;

Sources of State Revenue; Personal Money Management

trade in georgia
Trade in Georgia
  • Trade in Colonial times was with Native Americans and shipping goods back to Europe.
  • Antebellum trade involved wagons, river boats, steam ships and trains.
free trade
Free Trade
  • Free Trade is trade between countries that is unrestricted by tariffs.
georgia products agriculture
Georgia Products: Agriculture
  • Poultry
  • Cotton
  • Tobacco Leaf
  • Peanuts
  • Peanut Products
  • GOLD KIST – nation’s

2nd largest poultry company is in GA.

georgia produces manufacturing
Georgia Produces: Manufacturing

Soft drinks, carpet, transportation equipment, & forest products

Coca-Cola – most recognized GA product

Shaw Industries – largest manufacture of carpet in the world

Lockheed-Martin in Marietta makes C-130 aircraft for global customers

Georgia-Pacific: Worldwide supplier of forest products: pulp, paper, & building products

georgia produces transportation
Georgia Produces: Transportation

Delta Airlines: Atlanta based air carrier

United Parcel Service (UPS): Largest single transportation network in the world.

Both help move Georgians and cargo across the globe every day.

Shipyard at Savannah & Brunswick also play a role in international shipping.

starting a business
Starting A Business
  • Entrepreneur: A person who takes a risk to produce goods and services in search of a profit.
  • A profit is a company's earnings after all expense are paid.
  • Profit provides incentive for entrepreneurs.
  • Entrepreneurs invest personal resources and risks losing those resources if the business fails.
  • They share the risk when borrowing from banks or a wealthy investor.
  • Entrepreneurs are good for the economy.
  • Georgia Entrepreneurs:
  • Delta Airlines
  • Coca-Cola
  • Georgia-Pacific
  • Home Depot
sources of state revenue
Sources of State Revenue

Sales Tax

Federal Grants

  • “Consumption Tax”
  • A sales tax which is placed on things that people buy and consume.
  • Cars, groceries, clothes, etc.
  • U.S. Government gives states federal grants to help fund education or build interstate highways.
sources of state revenue1
Sources of State Revenue

Personal Income Tax

Property Taxes

  • States and the U.S. Government tax the earnings of individual citizens & money they earn from investments.
  • Private homes, land, and business property and taxed according to their value.
  • Major source of revenue for the local governments.
who gets the money

Revenue is used to pay for state & local programs like education, roads, public transportation, police & fire protection.

Citizens pay taxes…

citizens use services.

state budget
State Budget

GA Constitution says that the State must operate under an annual budget.

That budget details how much money is spent where.

The General Assembly must pass an “appropriation” which permits the spending from the budget.

Many levels of the State Government participate in planning the budget.

planning a state budget
Planning A State Budget
  • Process begins in Spring
  • Head of each agency decides how much money they need during the year.
  • In the Fall, the Office of Planning & Budget looks at the requests and decides what can be cut.
  • In January the Governor’s proposed budget is presented to the General Assembly.
  • State law requires that the budget be balanced; meaning the state cannot go into debt – EVER.
personal money management
Personal Money Management

Money is the medium of exchange to buy goods and services.

Your income provides you with money to spend on whatever you choose.

personal money management1
Personal Money Management

People use CREDIT to buy something now and pay for it later.

When you use CREDIT, you have to pay the amount you borrowed plus and additional amount of interest.

Banks make money from interest payments – interest is a fee paid for the use of someone else’s money.

making your money grow
Making Your Money Grow!

Putting money in a bank or credit union can make you EARN interest.

Saving money allows you to increase your money by INVESTING.

making your money grow1
Making Your Money Grow!

Ways to Invest Your Money:

Stocks and Bonds

Real Estate

Natural Resources



(your own or someone else’s)

safeguarding your money
Safeguarding Your Money

The Federal Deposit Insurance Corporation (FDIC) was created in the New Deal by FDR in the Great Depression.

The FDIC provides insurance for Americans who have money in banks.

safeguarding your money1
Safeguarding Your Money

The FDIC insures banks in case of bank failure.

If a bank fails, $100,000 of your money is insured by the Federal Government.

Since the FDIC was created, no American has lost money to a bank due to bank failure.