Trading Connections Concepts Question Preview (ID: 58864)


These Concepts Talk About Trading Connections Between Countries. TEACHERS: click here for quick copy question ID numbers.

Which word means when people trade goods and services for other goods and services, or for money?
a) Foreign Goods
b) Specialization
c) Exchange
d) Import

Foreign goods and services purchased from other countries are known as
a) Imports
b) Exports
c) Specialization
d) Domestic Goods

Goods and services that are sold to buyers in other countries are known as
a) Foreign Goods
b) Imports
c) Exchange
d) Exports

This is when people, regions, or other countries produce a narrower range of goods and services than they consume
a) Specialization
b) Exports
c) Imports
d) Domestic Goods

Goods and services produced outside of your home country
a) Domestic Goods
b) Foreign Goods
c) Exchange
d) Exports

Goods and services that are produced in your home country
a) Imports
b) Exchange
c) Foreign Goods
d) Domestic Goods

The United States sending cars to Canada is an example of which vocab term?
a) Export
b) Import
c)
d)

Canada sending maple syrup to the United States is an example of which vocab term?
a) Export
b) Import
c)
d)

Which of these is an example of a domestic good?
a) Cars made in Japan
b) Cars made in Germany
c) Cars made in Egypt
d) Cars made in the United States

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

Which scenario is an example of an exchange?
a) The United States produces cars for its own people to drive
b) Mexico sends avocados to the United States for money
c) Ireland grows potatoes to sell in its own markets
d) China produces steel that it uses to build its own factories

Why do countries participate in voluntary exchange?
a) To make as much money as possible
b) To prevent other countries from getting certain goods
c) To keep goods to themselves
d) To get the goods that they can't produce on their own

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