QUIZ ON LOCAL AND FOREIGN MADE GOODS

What is local trade also called?

• Barter trading

• Intra-trading

• Inter-trading

• Global trading

What are goods sold to other countries called?

• Exports

• Bartered goods

• Imports

• Locally-made goods

What is one benefit of supporting locally-made goods?

• Increases imports

• Reduces competition

• Decreases job opportunities

• Boosts the local economy

What can foreign goods provide to consumers?

• Less variety

• More variety

• Higher prices

• Fewer options

What is trade by barter?

• Exchanging goods without money

• Buying goods with money

• Selling goods internationally

• Trading services for cash

What is a problem of trade by barter?

• Easy to find trading partners

• No need for cooperation

• No common measure of value

• Always portable goods

What is one impact of foreign-made goods on the local economy?

• Reduces variety

• Increases local prices

• Decreases job opportunities

• Encourages local producers

What is a benefit of locally-made goods regarding the environment?

• Higher carbon footprint

• Smaller carbon footprint

• More pollution

• Less waste

What is a major export of Nigeria?

• Medicine

• Liquid natural gas

• Books

• Appliances

What is a major import into Nigeria?

• Cocoa

• Cassava

• Ships

• Leather goods