Week 29: World Economy

Many goods and items in grocery stores are ___________ far away places.

• transported to

• grown or manufactured in

• traded in

• bartered in markets in

When does trade occur?

• when crops are grown in a certain environment

• when goods are transported to factories

• when one country purchases goods from other countries

• when goods and services are scarce

Trade between two countries is called__________.

• domestic trade

• international trade

• import trade

• export trade

Trade between two states is called ____________.

• domestic trade

• international trade

• import trade

• export trade

Why do countries trade with other countries?

• They are nice.

• They like their people.

• They don't make everything their citizens need.

• They don't want to be hungry.

__________ is buying goods made in another country.

• Domestic trade

• Exporting

• Importing

• Manufacturing

_____________ is selling goods to another country.

• Domestic trade

• Exporting

• Importing

• Manufacturing

When a country is unable to produce a good that other countries depend on, the employee who produced the goods often ________ and _________to meet their needs.

• lose their job; have less money

• lose their job; have more money

• take a vacation; wait

• find another job; have more money

What is global economy?

• international spread of capitlaism

• industry and trade in only one country

• when countries trade with other countries to obtain resources that may not be produced at home

• goods and services that can be bought and sold only in South Carolina

Countries decrease _________ when they buy, sell, or exchange goods that are only available elsewhere.

• trade

• sources

• demand

• scarcity