Gain from Trade
Presentation
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History
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7th Grade
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Practice Problem
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Medium
Used 4+ times
FREE Resource
3 Slides • 6 Questions
1
When parties expect to gain, they trade voluntarily.
2
Imagine your family owns an apple orchard. Apples are one of your family's fruit... but they also really like peaches.
Apples
Your friend's family owns a peach orchard. Like yours, they like peaches... but they also really like apples.
Peaches
3
Multiple Choice
Is there an opportunity for both families to gain?
Yes, because they can trade SOME of the apples for SOME of the peaches.
Yes, because they can trade ALL of the apples for ALL of the peaches.
No, because each family likes their own fruits.
No, because each family does not like the others' fruits.
4
Fill in the Blanks
Imagine that you and your friends are studying the theme "gain from trade." You learn that parties trade voluntarily when they expect to
Type answer...
5
When people, societies, or countries trade, both parties who are trading expect to get something extra in return for what they are offering.
Countries often trade their SURPLUS goods and services in exchange for ones they do not have or that are too expensive for them to make.
6
Multiple Choice
Based on the previous slide, what does "surplus," mean?
7
Multiple Choice
Georgia is know to have a climate that supports the growth of apples AND peaches. It does NOT favor growing oranges or pineapples. To satisfy customers wanting oranges and pineapples, what can apple and peach farmers do to meet demand?
Trade their surplus apples and peaches for oranges and pineapples.
Try to have a small grove for oranges and pineapples to sell what survives.
Trade ALL of their apples and peaches for pineapples and oranges.
Nothing, because oranges and pineapples do not grow well in Georgia.
8
Multiple Choice
How does having different types of fruits for sale benefit Georgia farmers?
9
Open Ended
Think of an example in YOUR life where trading can be beneficial.
When parties expect to gain, they trade voluntarily.
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