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?

• Trade occurs when crops are grown in a certain environment.

• Trade occurs when goods are transported to factories.

• Trade occurs when one country purchases goods from other countries.

• Trade occurs 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 employees who produced the goods often __________ and  __________ to meet their needs.

• lose their jobs; have less money

• lose their jobs; have more money

• take a vacation; wait

• find another job; have more money

What is a global economy?

• international spread of capitalism

• 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 only be bought and sold in South Carolina

What is the definition of economy?

• Economy is an industrial site that is filled with machinery where workers manufacture items.

• Economy is the wealth or resources of a country, state, or region.

• Economy is the exchange of goods in trade.

• Economy is the use of money and currency to do business.