Power Hour 57 What Is Trade? by Susan LaBella

Power Hour 57

What Is Trade?

_{by Susan LaBella}

What Is Trade? by Susan LaBella

Have you ever swapped sandwiches with a friend at lunchtime? Trade" is the name we give to any exchange of one thing for something else. Trading can take place between people, companies, and countries. Trade involves services, money, and goods. Maybe you mowed your neighbors lawn, and she paid you. That was trading a service for money. Or maybe you traded your scooter for a friends video game. That was trading goods. People and countries may trade because they have too much of one thing and need something else.

For example, in some countries, people grow a lot of rice. They produce more than they need for themselves. That allows them to sell their rice to other countries. The buyers of the rice send money to the sellers. The sellers might use that money to buy goods or services. Trade allows people to sell, buy, or exchange goods and services to get what they need

Multiple Choice

What is the name we give to any exchange of one thing for something else?

• A. service

• B. money

• C. trade

Open Ended

Trade can involve services and money. What else can it involve?

Open

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