Meaning of trade - SS1 Commerce Past Questions and Answers - page 1
1
What is trade?
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A
The exchange of goods, services, or resources between individuals, businesses, or countries
B
The act of buying and selling stocks
C
The process of investing money in a business
2
What is the main principle behind trade?
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A
Mutual benefit
B
Competition
C
Exploitation
3
What are the different forms of trade?
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A
Bartering and using money as a medium of exchange
B
Bartering and using gold as a medium of exchange
C
Buying and selling only
4
What role does international trade play in the global economy?
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A
 Promotes economic growth, job creation, and the transfer of knowledge and technology between nations
B
Hinders economic growth and job creation
C
Promotes economic growth but hinders job creation
5
What are the wider implications of trade beyond economics?
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A
Foster cultural exchange, promote diplomatic relationships, and contribute to peace and stability
B
Foster cultural isolation, promote diplomatic conflicts, and contribute to war and instability
C
Promote cultural exchange but hinder diplomatic relationships and peace and stability
7
What is the role of international trade in the global economy?
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