Power Hour 70 What Is Trade? by Susan LaBella

Power Hour 70

What Is Trade?

_{by Susan LaBella}

What Is Trade?

Have you ever switched food with a friend at lunch? If you have, then you have traded. Trade is when you give something away to get something else. It is also called exchange. People can trade things. So can businesses and countries. They may trade goods. Goods are things that can be bought, sold, or traded. Have you ever given your friend a toy to get his or her video game? If you have, you have traded goods.

Services and money can also be traded. A service is any work someone does for someone else. Have people ever paid you to mow their lawn? If so, you traded a service for money. People and countries may trade because they have too much of one thing and need something else. Here is an example. In some places, people grow a lot of rice. They grow more rice than they need. So they sell some rice to other countries. Those countries exchange money for the rice. The people who grew the rice get the money. They can trade it for other things. People can get the things they need by trading.

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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