Understanding Trade Basics

Quiz
•
Others
•
4th Grade
•
Medium
Obed undefined
Used 5+ times
FREE Resource
21 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is trade?
Trade is a form of advertising.
Trade is the sale of stocks only.
Trade is the process of manufacturing goods.
Trade is the exchange of goods and services.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main purpose of trade?
To facilitate the exchange of goods and services.
To increase tariffs on imports.
To limit the availability of goods.
To promote isolationism in economies.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are the two main types of trade?
Domestic trade and international trade
Local trade and regional trade
E-commerce trade and barter trade
Wholesale trade and retail trade
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is international trade?
The sale of services only to domestic consumers.
International trade is the exchange of goods and services between countries.
The exchange of currency between banks.
The trade of goods within a single country.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is domestic trade?
Domestic trade is the exchange of goods between countries.
Domestic trade refers to international trade agreements.
Domestic trade is the exchange of goods and services within a country.
Domestic trade is the sale of services only outside a country.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a benefit of trading goods?
Decreased product quality
Reduced trade opportunities
Increased efficiency and variety of goods.
Limited access to local markets
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How does trade help countries?
Trade increases the cost of goods for consumers
Trade helps countries by enhancing economic efficiency, increasing access to goods, promoting competition, and fostering international relationships.
Trade only benefits wealthy countries
Trade leads to job losses in all sectors
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