Trade Quiz

What is trade?

• Forced exchange of goods

• Exchange of money only

• Voluntary exchange of goods and services

• Exchange of services only

What does voluntary trade mean?

• People trade under pressure

• People trade only for services

• People trade without being forced

• People trade only for money

What is bartering?

• Trading only in services

• Buying goods with money

• Exchanging goods without money

• Selling services for cash

What is bilateral trade?

• Trade within a country

• Trade involving money only

• Trade between three buyers

• Trade between two buyers

What is wholesale trade?

• Buying large quantities from producers

• Selling small quantities to consumers

• Trading only in services

• Exchanging goods without money

What is retail trade?

• Buying from wholesalers to sell to consumers

• Selling directly to producers

• Exchanging services for goods

• Trading only in raw materials

What did people use before money was invented?

• Credit cards

• Digital currency

• Coins

• Bartering

What is the main purpose of trade?

• To avoid bartering

• To find goods or services needed

• To create money

• To reduce inequality

What is internal trade?

• Trade within a single country

• Trade between two countries

• Trade involving money only

• Trade in services only

What is international trade?

• Buying and selling between countries

• Trade within a single country

• Trade involving only services

• Trade without money