Trade Flashcards
Define the word exchange?
To give things and receive (get) things.
Define the word goods?
Objects that people buy and sell.
Define the word trade?
The exchange of goods.
Exchange goods in return for other goods (word)
Barter
To give things and receive (get) things (word)
Exchange
Objects that people buy and sell (word)
Goods
The exchange of goods (word)
Trade
Why do people buy and sell goods, and what do we call this ?
To get the things they need and we call this exchange of goods trade.
What does the simplest kind of trade not use?
Money
What is the simplest kind of trade?
Bartering
Most people no longer______for the things they ____. We use _____ to make ________and ______ things easier. ______ and _____agree on the price of______. If the price is too ____, buyers will not _____ . If the price is too____,sellers will___ trade.
Barter Need Money Buying Selling Buyers Sellers High Low Not
Where do some people trade?
People trade at markets or shops.
Who do countries trade with?
With other countries.
What are exports?
When a country sells goods to another country, the goods go out of the country.
What are imports?
When a country buys goods, they come into the country.
