What is Trade?

Trade is the exchange of goods and ....

• services

• businesses

• embargoes

• restrictions

Which of these is an example of service?

• smartphone

• Nike shoes

• bushel of apples

• fixing your computer

Which of these is an example of a good?

• babysitting

• mowing the lawn

• trendy jeans

• designing a building

True or false? Trade only happens between countries.

• True

• False

A good brought in from another country is called...

• tariff

• export

• import

• embargo

Which of these is an example of a trade restriction?

• tariffs

• services

• imports

• economies

Why might a country want to restrict trade from other countries?

• to shrink its economy

• to increase spending on imports

• to encourage free trade

• to make domestic products more attractive

What happens when two parties willingly trade with each other?

• both parties disappear

• both parties end up better than they were before

• neither party end up better than they were before

• one party does very well, and the other doesn't