Podcast
Questions and Answers
What type of trade involves the sale of goods in small or individual lots for direct consumption?
What type of trade involves the sale of goods in small or individual lots for direct consumption?
- Spice trade
- Grain trade
- Wholesale trade
- Retail trade (correct)
During which period did trade openness substantially increase from 1815 until the outbreak of World War I?
During which period did trade openness substantially increase from 1815 until the outbreak of World War I?
- Oil crisis of the 1970s
- 1920s
- 1950s onward
- Great Depression of the 1930s (correct)
What is the main characteristic of wholesale trade?
What is the main characteristic of wholesale trade?
- Selling goods to retailers or other business users (correct)
- Sale of goods in small quantities
- Selling goods online or by mail
- Involvement in spice and grain trading
When did trade openness increase substantially again after the collapse during the Great Depression?
When did trade openness increase substantially again after the collapse during the Great Depression?
According to economists and economic historians, are current levels of trade openness the highest they have ever been?
According to economists and economic historians, are current levels of trade openness the highest they have ever been?
What is the main factor that enables trade according to the text?
What is the main factor that enables trade according to the text?
Which type of trade involves more than two traders according to the text?
Which type of trade involves more than two traders according to the text?
What did economists refer to as a system or network that allows trade?
What did economists refer to as a system or network that allows trade?
What has greatly simplified and promoted trade according to the text?
What has greatly simplified and promoted trade according to the text?
Why do different regions engage in trade according to the text?
Why do different regions engage in trade according to the text?
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