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International Trade

Quiz yourself by thinking what should be in each of the black spaces below before clicking on it to display the answer.
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Question
Answer
show Swapping goods or services without the use of money.  
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What is trade?   show
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show The exchange of goods and services within a country Eg Ireland.  
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What is international trade?   show
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What are visible imports?   show
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show These are services that cannot be seen or accurately measured, eg holidays by Irish people in foreign countries.  
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show These are physical things such as chemicals and medicines, that can be seen and measured.  
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show Services that cannot be seen or accurately measured, eg holidays by foreign people in Ireland.  
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What is the balance of trade?   show
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What is the balance of invisible trade?   show
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show The difference between total exports (visible and invisible exports) and total imports(visible and invisible imports).  
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What is the World Trade Organisation?   show
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What is the law of Comparative advantage?   show
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Created by: Bredadowling
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