Lesson 7: Trade & Development

Countries promote trade to grow their economies and improve the lives of its citizens.

• True

• False

During the winter months in the northern hemisphere, countries in the _____ hemisphere produce fruits and vegetables. Why? The seasons are opposite!

• eastern

• western

• southern

Trade with other nations, involving imports and exports.

• domestic trade

• international trade

Goods and services sold in one country but produced in another.

• Producers

• Consumers

• Imports

• Exports

All the buying and selling that takes place inside a country.

• domestic trade

• international trade

Exports are

• Goods and services produced within a country and sold outside its borders.

• Goods and services sold in one country but produced in another.

• None of these

• Both of these

The dollar, euro, yen, pound, and rupee are all forms of

• language

• religion

• currency

• food

Which of the following are trade barriers?

• tariff

• embargo

• quota

• exports

Which of the following are characteristics of a developed country?

• weak economy

• strong economy

• high standard of living

• industrialized

Which of the following are characteristics of a developing country?

• low standard of living

• less productive economy/traditional economy

• highly industrialized

• lower life expectancy