Trade Exit Ticket

What is trade?

• Borrowing money

• Buying and selling goods and services

• Lending money

People also trade for services when they do not have the time or the _____________ to do things.

• products

• skills

• goods

Why do countries engage in trade?

• To make new international friends

• To explore new places

• To exchange goods and services they need

What is import?

• Sending goods to another country

• Buying goods from another country

• Making goods at home

What is export?

• Selling goods to another country

• Borrowing goods from a foreign nation

• Throwing away unwanted goods

Imagine you live in a country that produces a lot of bananas but does not have any oranges. What can your country do to obtain oranges?

Explain why trade benefits countries.

Write three services you can trade with others in your community.

Bartering is to trade goods or services in exchange for other goods or services without using money.

• TRUE

• FALSE

Gold was used as money in the past, and it still holds its value today.

• TRUE

• FALSE