Understanding Trade Basics

Understanding Trade Basics

4th Grade

21 Qs

quiz-placeholder

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Understanding Trade Basics

Understanding Trade Basics

4th Grade

20 Qs

Understanding Trade Basics

Understanding Trade Basics

Assessment

Quiz

Others

4th Grade

Medium

Created by

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Used 5+ times

FREE Resource

21 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is trade?

Trade is a form of advertising.

Trade is the sale of stocks only.

Trade is the process of manufacturing goods.

Trade is the exchange of goods and services.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the main purpose of trade?

To facilitate the exchange of goods and services.

To increase tariffs on imports.

To limit the availability of goods.

To promote isolationism in economies.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the two main types of trade?

Domestic trade and international trade

Local trade and regional trade

E-commerce trade and barter trade

Wholesale trade and retail trade

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is international trade?

The sale of services only to domestic consumers.

International trade is the exchange of goods and services between countries.

The exchange of currency between banks.

The trade of goods within a single country.

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is domestic trade?

Domestic trade is the exchange of goods between countries.

Domestic trade refers to international trade agreements.

Domestic trade is the exchange of goods and services within a country.

Domestic trade is the sale of services only outside a country.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a benefit of trading goods?

Decreased product quality

Reduced trade opportunities

Increased efficiency and variety of goods.

Limited access to local markets

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How does trade help countries?

Trade increases the cost of goods for consumers

Trade helps countries by enhancing economic efficiency, increasing access to goods, promoting competition, and fostering international relationships.

Trade only benefits wealthy countries

Trade leads to job losses in all sectors

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