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What is Trade?
https://www.readworks.org/article/What-Is-Trade/ee6053d3-31d3-4d63-b300-022d810c45e5#!articleTab:content/
What is trade?Have you ever swapped sandwiches with a friend at lunchtime? “Trade” is the name we give to any exchange of one thing for something else. Trading can take place
between people, companies, and countries.
Trade involves services, money, and goods. Maybe you mowed your neighbor’s lawn, and she paid you. That was trading a
service for money. Or maybe you traded your scooter for a
friend’s video game. That was trading goods.
People and countries may trade because they have too much of one thing and need
something else. For example, in some countries, people grow a lot of rice. They
produce more than they need for themselves. That allows them to sell their rice to other countries. The buyers of the rice send money to the sellers. The sellers
might use that money to buy goods or services.
Trade allows people to sell, buy, or exchange goods and services
to get what they need.
exchangeto give something in return for something else; trade.
I exchanged this blouse for
one in a different color
things to buy and sell.
Factories produce goods, and
stores sell them.
goods
the work of a person who does things for other people.
We need the service of a
mechanic.
service
What is the name we give to any exchange of
one thing for something else?
A. serviceB. moneyC. trade
What is the name we give to any exchange of
one thing for something else?
A. serviceB. moneyC. trade
What is an example of trading goods for money?
A. selling riceB. swapping sandwichesC. mowing your neighbor's lawn
What is an example of trading goods for money?
A. selling riceB. swapping sandwichesC. mowing your neighbor's lawn
Which sentence best states the main idea of the article?
A. "Have you ever swapped sandwiches with a friend at lunchtime?"
B. "Trade allows people to sell, buy, or exchange goods and services to get what they need."
C. "For example, in some countries, people grow a lot of rice."
Which sentence best states the main idea of the article?
A. "Have you ever swapped sandwiches with a friend at lunchtime?"
B. "Trade allows people to sell, buy, or exchange goods and services to get what they need."
C. "For example, in some countries, people grow a lot of rice."
Trade can involve services and money.
What else can it involve?
Trade can also involve goods.
What is an example of trading goods?
1. swapping sandwiches
2. trading a scooter for a video game
What is the difference between goods and services?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.
