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Trade

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  • Why do people trade goods and services?
    Because they want things they do not have
  • True or false: Bartering means exchanging goods without using money.
    True
  • Goods that are sold by a country to other countries is called....
    Exports
  • True or false: People trade only for money.
    False
  • True or False: South Africa trades gold and diamonds with other countries.
    True
  • What is imports?
    Goods that are bought by a country from others.
  • What does natural resources mean?
    Things that come from nature.
  • Name one product South Africa exports.
    Gold, diamonds, fruit, or wine (any is acceptable)
  • What is "barter trade"?
    A system where people exchange goods or services without using money.
  • True or false: Local trade happens within a town or city.
    True
  • Why is trade important for a country?
    It helps people get what they need, creates jobs, and grows the economy.
  • Raw materials are also secondary products.
    No - primary
  • Does South Africa import or export medicine?
    Import
  • True or false: You cannot trade services, only goods.
    False
  • We measure a product's value in terms of ________.
    money
  • True or false: Processed chocolate is more worth than cocoa beans.
    True
  • What is "trade"?
    Writing a story
    Buying, selling, or exchanging goods and services
    Playing games
    Giving someone a gift
  • What do we call trade that happens between two or more countries?
    International trade
  • Which of these is a good?
    Doctor's check-up
    Teaching
    Banana
    Hair styling
  • Which of the following is an example of a "service"?
    Shoes
    Haircut
    Apples
    Bread
  • True or false: Tourism is a import for South Africa.
    False
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