Global Trade and Economics Quiz

What is trade?

• Buying and borrowing goods

• Selling goods to only one country

• Buying and selling goods and services

• Donating goods to other countries

What is global trade?

• Trade within a city

• Selling goods in only one continent

• Buying and selling goods between countries

• Moving goods from one store to another

Why does global trade occur?

• Every country has all resources

• To encourage travel

• Because no country is fully self-sufficient

• To make products cheaper

What has made global trade easier?

• Colonization

• Globalisation

• Tourism

• Wars

What is an import?

• A local product

• A product exported abroad

• A product made from waste

• A product brought into a country

What is an export?

• Sending goods to another country

• Receiving services from abroad

• Buying local food

• Recycling waste

Which of these is a manufactured good?

• Cotton plant

• Steel car

• Raw coffee bean

• Wheat grain

What are commodities?

• Expensive designer clothes

• Luxury electronics

• Raw materials used to make products

• Rare gemstones only

A developed country is one that:

• Has a lot of natural disasters

• Has a low literacy rate

• Has high quality of life and technology

• Is only in Europe

What is globalisation?

• Dividing the world into nations

• Increasing internet access

• Becoming interconnected through trade and culture

• Importing oil