Understanding Trade Concepts

What is the exchange of goods within a country called?

• International trade

• Domestic trade

• Barter system

• E-commerce

What do we call the trade of goods between countries?

• Regional exchange

• Domestic commerce

• International trade

• Local trade

Can you give an example of domestic trade?

• A farmer exporting vegetables to another country.

• A store selling imported goods from overseas.

• A farmer selling vegetables at a local market.

• A company trading stocks on the stock market.

What is an example of foreign trade?

• Trading services with another country without exchanging goods.

• Buying electronics from a local store and selling them online.

• Exporting cars to another country while importing electronics.

• Importing cars from another country while exporting textiles.

What are some major import goods of India?

• furniture

• textiles

• Crude oil, gold, machinery, electronics, chemicals

• automobiles

Which good had the highest import percent in 2016-17?

• Gold

• Wheat

• Electronics

• Crude oil

What are some major export goods of India?

• Fossil fuels

• Electronics

• Textiles, pharmaceuticals, jewelry, engineering goods, agricultural products

• Automobiles

Which good had the highest export percent in 2016-17?

• Petroleum products

• Electronics

• Textiles

• Automobiles

What does foreign trade mean?

• Foreign trade means the exchange of currency between nations.

• Foreign trade is the exchange of goods and services between countries.

• Foreign trade refers to the sale of goods within a country.

• Foreign trade is the import of services only.

Is Kashmir apples sold in Maharashtra an example of domestic trade?

• No, it is an example of international trade.

• Yes, it is an example of domestic trade.

• Yes, it is an example of online trade.

• No, it is an example of barter trade.