Social Studies 03.24.2021 Flashcards
Why do people trade with one another?
To get things they want.
Where does trading happen?
All around the world.
What do you call the buying and selling of goods and services between countries?
Global trade
What are oil, gold and copper?
Natural resources
What can the US do if it does not have the resources it needs?
It can buy it from other countries.
How does global trade allow people to enjoy grapes all year long?
People can buy grapes from other places.
Manufactured goods are goods made by:
machines
How can a business take part in global trade?
It can sell goods to other places, it can open stores in other countries, it can open factories in other countries.
Why might a country buy clothing from another country?
The price of clothes is lower in another country.
What is the benefit of global trade?
It allows people to pay less for goods.
What might companies do to save money?
Move to a country to pay workers less.
Companies may shut down because?
People don’t always buy things from their area.
