Understanding Trade Quiz

What is trade?

• Making products from raw materials

• Selling only to people in your family

• The exchange of goods and services between people, companies, or countries

• Using only products made by yourself

Which of the following is an example of internal trade?

• Saudi Arabia selling oil to China

• Buying spices from India

• A farmer in Riyadh selling vegetables to a store in Jeddah

• Ordering a book from the US

Who is the manufacturer in the supply chain?

• The person who buys goods for personal use

• The company that sells goods directly to consumers

• The person or company that makes goods from raw materials

• The business that buys goods in bulk and sells to retailers

What are goods?

• Physical products like toys or clothes that are bought and sold

• Actions, like teaching or haircuts

• Buying and selling online

• Exchanging only money

If Saudi Arabia imports laptops from another country, the laptops are:

• Exports

• Goods

• Imports

• Services

Why do countries trade with each other?

• So they can keep all their products for themselves

• To get products they do not easily make and help their economies grow

• To stop working with other countries

• To make products more expensive for everyone

What is the main purpose of trade?

• To keep all goods in one place

• To collect as many goods as possible

• To get goods and services people need or want

• To make everything by yourself

Which of the following BEST describes external trade?

• Exchanging toys with a classmate

• Selling goods from one city to another in the same country

• Trading between different countries

• Making goods for personal use

Who is the retailer in the supply chain?

• The person who uses the product

• The business that sells goods directly to consumers

• The company that produces goods from raw materials

• The one who buys goods in bulk from producers

If Saudi Arabia buys computers from Japan, the computers are called:

• Exports

• Imports

• Goods

• Services