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Trading Connections Concepts
Test Description: These concepts talk about trading connections between countries
Instructions: Answer all questions to get your test result.
1) Which word means when people trade goods and services for other goods and services, or for money?
A
Import
B
Exchange
C
Foreign Goods
D
Specialization
2) Foreign goods and services purchased from other countries are known as
A
Specialization
B
Imports
C
Domestic Goods
D
Exports
3) Goods and services that are sold to buyers in other countries are known as
A
Exports
B
Foreign Goods
C
Exchange
D
Imports
4) This is when people, regions, or other countries produce a narrower range of goods and services than they consume
A
Imports
B
Specialization
C
Exports
D
Domestic Goods
5) Goods and services produced outside of your home country
A
Exchange
B
Foreign Goods
C
Exports
D
Domestic Goods
6) Goods and services that are produced in your home country
A
Imports
B
Exchange
C
Domestic Goods
D
Foreign Goods
7) The United States sending cars to Canada is an example of which vocab term?
A
Export
B
Import
8) Canada sending maple syrup to the United States is an example of which vocab term?
A
Export
B
Import
9) Which of these is an example of a domestic good?
A
Cars made in Egypt
B
Cars made in the United States
C
Cars made in Germany
D
Cars made in Japan
10) Which of these is an example of a foreign good?
A
Cheese made in France
B
Corn grown in the United States
C
Cows raised in the United States
D
Coal mined in the United States
11) Which scenario is an example of an exchange?
A
Ireland grows potatoes to sell in its own markets
B
China produces steel that it uses to build its own factories
C
The United States produces cars for its own people to drive
D
Mexico sends avocados to the United States for money
12) Why do countries participate in voluntary exchange?
A
To prevent other countries from getting certain goods
B
To keep goods to themselves
C
To make as much money as possible
D
To get the goods that they can't produce on their own
*select an answer for all questions
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