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WorksheetsLet’s Make a Deal Quiz
Total questions: 20
Worksheet time: 10mins
The exchange of goods and services
(a)
What Unit is the lesson "Let’s Make a Deal" a part of?
A Yen to Trade
Cooking Techniques
Market Building
Trade Agreements
According to the lesson, what increases the likelihood of finding a beneficial trade?
The number of people allowed to trade with
The amount of money spent
The size of the items traded
The location of the trade
What is the basis for international trade according to the lesson?
Cooking techniques
Beneficial trades
Market locations
Trade agreements
What is one of the key ideas students discover in the lesson?
The more people they trade with, the more likely they find a beneficial trade
The more money they spend, the better the trade
The larger the item, the more valuable the trade
The closer the market, the better the trade
What is one of the conditions necessary before a trade will occur, according to the lesson?
Agreement between two people
Large amount of money
International location
Historical knowledge
What is one of the objectives related to the number of traders in the lesson?
Tell why trades are more likely as the number of traders increases
Describe how to reduce the number of traders
Explain why fewer traders are better
Discuss the disadvantages of many traders
What is the value of a good or service?
The amount of money it costs
The amount of satisfaction or happiness it provides
The amount of time it takes to produce
The amount of resources it uses
Why might a person not value a bowl of broccoli?
It is too expensive
It does not satisfy any want they have
It is too difficult to prepare
It is not available in stores
What is an example of a good that satisfies people's desire to exercise?
A bicycle
Water
Soda
An amusement park
What was a key discussion point after the trading period?
How many items were traded
How many students participated
How many students are happier now
How many students left early
What does each good still have after being traded?
Less value.
No function.
The same function as it did before.
More value.
What are economic wants?
Objects that satisfy people's wants
Desires that can be satisfied by consuming goods and services
Actions that satisfy people's wants, such as haircuts, setting a broken leg, and teaching school
Trading with people in other countries
What is the first round of trading compared to in the lesson?
Trading with people in their own country
Trading with people in other countries
Trading without any rules
Trading only services
What is voluntary exchange?
Trading goods and services with the expectation of mutual gain
Trading goods and services without any expectations
Trading goods and services only for money
Trading goods and services with no regard for value
What is the second round of trading compared to in the lesson?
Trading with people in their own country
Trading with other countries
Trading only services
Trading only goods
What does NAFTA stand for?
North American Free Trade Agreement
National Association of Free Trade
North Atlantic Free Trade Association
National American Federal Trade Association
What are TWO of the primary goals of the North American Free Trade Agreement (NAFTA)?
encouraging economic growth in Canada, Mexico, and the United States
reducing barriers to immigration between Canada, Mexico, and the United States
creating a mutual defense pact between Canada, Mexico, and the United States
reducing industrial pollution within Canada, Mexico, and the United States
eliminating barriers to trade between Canada, Mexico, and the United States
