Trade

What is Trade?

• The import and export of goods only.

• The voluntary exchange of goods and sevices by people.

• The exchange of goods of equal value, without using money.

• A system of money in general use in a particular country.

What were the first forms of money? Select all that apply.

• shells

• coins

• stones

• paper money

International (external) trade is...

• the exchange of goods and services between businesses only.

• the exchange of goods and services without the use of money.

• the exchange of goods and services that occur within the borders of a country.

• the exchange of goods and services between countries.

Complete the sentence:

Exports are good and services one country (a)   to another country.

Complete the sentence:

Imports are goods or services one country (a)   from another country.

Select all that apply:

The image is an example of a...

• primary product

• secondary product

• tertiary product

• value-added product

Select all that apply:

The image is an example of a...

• primary product

• secondary product

• raw material

• manufactured product

When a primary product is made into a secondary product, the value (a)   .

Which one of the following is not an example of a trade in service?

• A doctor providing medical care.

• A teacher teaching students.

• A shopkeeper selling goods.

• An engineer designing a bridge.

For a country to grow and develop economically, it must...

• sell raw materials to other countries.

• manufacture products from raw materials and export them.

• import all the manufactured goods it needs

• export primary products only.