Trade AC1

Question 1

Definition of Barter?

Answer 1

exchanging goods in return of other goods

Question 2

Definition of Exchange?

Answer 2

to give things and receive (get) things

Question 3

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What is goods?

Answer 3

objects people buy and sell

Question 4

Trade definition?

Answer 4

the exchange of goods

Question 5

Why do people buy and sell goods?

Answer 5

To get what they need

Question 6

What is it called when people buy and sell goods to get the things they need?

Answer 6

Exchange of goods trade

Question 7

Why does trade happen between people?

Answer 7

1. People need or want goods they do not have.
2. People also trade for services when they do not have the time or skills to do things

Question 8

Why do countries trade?

Answer 8

some countries have resources like oil, or skills that other countries will buy

Question 9

Where do people trade?

Answer 9

markets or shops

Question 10

Explain exports

Answer 10

When a country sells goods to another country, the goods go out of the country.

Question 11

Explain imports?

Answer 11

When a country buy goods, they come into the country.

Question 12

What is trade between 2 countries called?

Answer 12

International trade

Question 13

What is South Africa’s main exports?

Answer 13

• corn
• diamonds fruit
• gold
• metals (iron, steel, aliminium, copper)
• minerals (iron, ore, coal)
• sugar
• wool
• motorcycles

Question 14

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what is South Africa’s main imports?

Answer 14

• machinery
• oil
• electrical goods
• clothes
• petroleum
• cars
• chemicals

Question 15

Name the prinicipal international trading partners of South Africa:
Not African Countries

Answer 15

• Germany
• United States
• China
• Japan
• United Kingdom
• Spain

Question 16

Why is import and export important for a country?

Answer 16

Important for the development and growth of national economies, because not all countries have the resources and skills required to produce certain goods and services.