Social Studies Economy and Trade

The economy is...

• the selling, purchasing, and delivery of goods and services.

• the making, selling, and buying of goods and services.

• the delivery, selling and buying of goods and services

• the building, making, and creating of goods and services.

A good is...

• a product you can deliver such as pizza delivery, amazon, or uber.

• a service that provides value to a consumer

• a product you can use or consume such as a car, video game, or chocolate bar.

• something that is good.

A service is...

• a good given to one person for another.

• a product given to one person for another.

• an economy given to one person for another.

• a task performed by one person for another.

Invest means...

• to give another person, bank, or company money in the hope of making money.

• to give services to a person in order to make money.

• to give products to another person in order to make money.

• to wear a vest indoors.

Canada exports means to...

• import goods to another country

• buy and build in another country

• sell and send to another country

The bike store in Mark's neighbourhood ________ bikes from China and sells them to Canadians.

Canada usually ______ lumber, oil, minerals and wheat to other countries.

This organization supervises trade worldwide. Its focus is to make sure that trade happens around the world easily and effectively.

• WHO

• WTO

• WWW

• WWF

The North American Free Trade Agreement (NAFTA) was renegotiated and was replaced by an updated and rebalanced agreement called...

• The Deal of all Deals (DOD)

• The New North American Free Trade Agreement (NNAFTA)

• The United States-Mexico-Canada Agreement (USMCA)

Which of the following countries was not in the TOP 10 countries that Canada imported from in 2012.

• United States

• China

• Mexico

• Russia