Practice Why Does International Trade Exist? (8.2)

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6 sample questions

Question 1.
What is international trade?
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Think of trade that occurs between countries.
Question 2.
What does the term 'barter' mean?
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Consider how people traded before money.
3Question 3.
What is the main purpose of international trade?
- A) To exchange currencies
- B) To acquire goods not produced locally
- C) To sell services only
- D) To barter goods directly
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Focus on why countries trade with each other.
4Question 4.
True or False: Bartering was the primary system of trade before the introduction of money.
- True
- False
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Think about trade's evolution.
Question 5.
Discuss the potential long-term impacts of relying heavily on imports due to a negative trade balance. How might this affect local economies?
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Think about the implications for workforce and production abilities.
Question 6.
Analyze how advancements in technology might change the nature of comparative advantages among countries in the next decade.
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Consider emerging tech fields and their global impacts.

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