Cloze Notes #2 (Canada & Voluntary Trade)

Currency is something that is _________ and can be used to purchase goods & services in a market.

• extracted

• assigned a value

• refined

Because countries have different forms of currency, international trade requires a _________ currencies between nations.

• system for exchanging

• money

• bank

Money from 1 country ________ into the currency of another country to pay for goods for that country.

International trade requires a fair way to _________.

• trade

• shop

• swap currency

What the currency of a nation is worth in terms of another country's currency is called the ________.

Currency exchange rates are used for the trade of currency _________ in terms of value.

• rich

• to be fair

• increase

The currency exchange rate is the price of 1 country's currency into __________.

• bank

• market

• another country's currency

Foreign exchange makes it _________ all around the world.

• harder to trade

• market

• easier to trade

When a nation's economy change, so does the ________.

Exchange rates are ________.