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WorksheetsEconomics-Trade Vocabulary
Total questions: 15
Worksheet time: 8mins
Name
Class
Date
1.
When countries rely on each other for resources, goods, or services.
a)
Specialization
b)
Interdependence
c)
Scarcity
d)
Trade
2.
The money that each country has, like paper bills and coins
a)
scarcity
b)
exchange rate
c)
currency
d)
tariff
3.
To swap products with someone
a)
Trade
b)
Specialization
c)
Exchange rate
d)
Import
4.
When there isn't enough of something
a)
Embargo
b)
Quota
c)
Specialization
d)
Scarcity
5.
Trading between countries
a)
Exchange rate
b)
Embargo
c)
International trade
d)
Voluntary trade
6.
Any action a government uses to control trade between countries
a)
Trade barrier
b)
Voluntary trade
c)
Free trade
d)
Specialization
7.
When people trade because they both want what the other person has
a)
Trade barrier
b)
Voluntary trade
c)
International trade
d)
Free trade
8.
Products brought into a country
a)
Currency
b)
Exchange rate
c)
Export
d)
Import
9.
An extra price or tax added onto imported products
a)
Embargo
b)
Tariff
c)
Quota
d)
Exchange rate
10.
International trade free of government control and trade barriers
a)
Free trade
b)
Trade barrier
c)
Voluntary trade
d)
Embargo
11.
A limit on how much of something may be imported
a)
Trade barrier
b)
Tariff
c)
Embargo
d)
Quota
12.
Products sold to other countries
a)
Currency
b)
Import
c)
Export
d)
International trade
13.
How much one country's money is worth compared to another country's
a)
Exchange rate
b)
Interdependence
c)
International trade
d)
Currency
14.
When a country won't trade with another country at all
a)
Quota
b)
Embargo
c)
Tariff
d)
Free trade
15.
It decides the price and amount of oil made each year in big oil countries like Iran, Iraq, Saudi Arabia, and Kuwait
a)
Organization of Petroleum Exchanging Countries
b)
Organization of Petroleum Expecting Continents
c)
Organization of Price Control
d)
Organization of Petroleum Exporting Countries
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