73
Lesson 73 of 84 · Trade and Commerce
Free Trade and Tariffs
Trade is exchanging goods and services. No person, community, or country can produce everything they need, so trade allows everyone to benefit from specialization.
Key Facts
1
Supply and demand affect prices.
2
Trade connects people globally.
3
Every choice has an opportunity cost.
Check Your Understanding
Question 1
1 of 2What are goods?