ECONOMICS
TRADE EXCHANGE AND INTERDEPENDENCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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so
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because
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but
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None of the above
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Detailed explanation-1: -The dictionary meaning of the word trade is the business involving selling and buying of items or goods and services.
Detailed explanation-2: -Support your answer with evidence from the article. Students should recognize that goods are physical items while services are actions people do. That is why exchanging a scooter for a video game is an example of trading goods while getting paid to mow a neighbor’s lawn is an example of trading a service for money.
Detailed explanation-3: -Trade is critical to America’s prosperity-fueling economic growth, supporting good jobs at home, raising living standards and helping Americans provide for their families with affordable goods and services.
Detailed explanation-4: -Bartering is the exchange of goods and services between two or more parties without the use of money. It is the oldest form of commerce. Individuals and companies barter goods and services between each other based on equivalent estimates of prices and goods.