WorksheetsUnit 2 - test review
Total questions: 20
Worksheet time: 10mins
The exchange of goods and services is called (a)
A driver, a cleaner and a nanny are an example of
Service
Good
Trade
Economy
Economy is _______
A task that a person or group does to help one another
A system in which people produce, buy and sell goods and services.
Things you bring into the country
The goods you sell to other countries
Why do countries need to import and export goods?
They do not have those resources in their countries
To create wealth in the country
It's easier to ship things
Export is
The goods that a country sells to another country
The goods that a country brings into their country
Import is
The goods that are brought into the country
The goods that are sold to other countries
What's the difference between a good and a service?
A good is a product that you can use, a service is a task someone does to help you
A good is a task that someone does to help you, a service is a product that you can use
Usually, a high GDP means that most people in the country are working and have good salaries
True
False
Which countries have signed the North American Free Trade Agreement (NAFTA)
America, Mexico, Canada
Canada, Russia and Mexico
Canada, America and Hong Kong
When was NAFTA (North American Free Trade Agreement) signed?
1994
1998
2004
1992
What are developed countries?
Countries that trade with everyone
Countries that are wealthy and have high life expectancy
Countries that are poor with low life expectancy
What is WTO
World Trade Organization
World Trampoline Oasis
Whale Treatment Ocean
When was the World Trade Organization (WTO) officially signed?
2005
1994
2021
1995
What are sweatshops?
Shops where people sweat a lot?
Workplaces where people work long hours for little pay.
Overcrowded shops during Black Friday sales.
According to this chart, which country went through the most change from 1980 to 2015?
United States
China
Japan
Netherlands
If we look at the exports of developed and developing countries from 1980 and 2015, what do we see?
Developing countries are starting to export more goods.
There was no change.
Developed countries are starting to export more goods.
Why do businesses usually hire companies in developing countries to make their goods?
They save money because it's cheaper to make it in a developed country.
They want to give other countries a chance to work for them.
Developing countries have better tools and technology.
What is fair trade?
A system that ensures farmers in developing countries get a fair price for their products.
Trading fairly with your friends
When trade is done in fair conditions.
Global trade has advantages and disadvantages.
True
False
Define Globalization
Products made in a country
Countries trading with one another
The process of growing connections around the world.
