Why people trade Flashcards
1
Q
Why is there a need for people to trade
A
People need or want things that they cannot make or grow themselves. So they trade
2
Q
What does trade mean
A
Exchanging or giving something in return or something else
3
Q
Trading involves …
A
Buying and selling goods for money
4
Q
What do you call it when countries trade
A
When countries sell they EXPORT
When countries buy they IMPORT
5
Q
What does government get from international trade?
A
They get income from it in the form of taxes
6
Q
Look at the picture and name the items that we import and export
A
Export - Machinery and equipment Other materials and minerals Platinum diamonds and gold Import Chemicals Scientific instruments Machinery and equipment
