What is Trade- Flocabulary

Trade is the exchange of goods and

Which of these is an example of a service

• a smartphone

• Nike sneakers

• a bushel of apples

• fixing your computer

Which of these is an example of a good

• babysitting

• trendy jeans

• mowing the lawn

• designing a building

True or False: Trade only happens between countries

• True

• False

What happens when two parties willingly trade with each other

• Both parties disappear

• Both parties end up better than they were before

• Neither party ends up better than they were before

• One party does very well, and the other one suffers

A good brought in from another country is called a(n)

A good sent out to another country is called a(n)

Why might a country want to restrict trade from other countries

• to shrink its economy

• to encourage free trade

• to increase spending on imports

• to make domestic products more attractive

Which of these is an example of a trade restriction

• tariffs

• imports

• services

• economies

Why did the US place an embargo on trading goods with Cuba