Question

Match the terms to their definition. 1. barter something that is produced; a product 2. capital money that is used to produce greater wealth 3. production to trade goods or services without the exchange of money 4. quota a fixed amount

Answer 1

Barter - trade goods or services without the exchange of money. It was the primary form of trade that arose when prehistoric tribes and civilizations started to generate production surpluses and to exchange them.

Capital - money that is used to produce greater wealth. It is one of the three basic factors of production (land, labor and capital) that are necessary to manufacture goods and services in order to satisfy human needs.

Production - something that is produced

Quota - a fixed amount. Quotas are for example used in foreign trade policy when a limit is established in the number of products that can enter in the markets of a certain country.

Answer 2

Let's link each term to its definition.

• Barter - trade goods or services without the exchange of money. It was the primary form of trade that arose when prehistoric tribes and civilizations started to generate production surpluses and to exchange them.
• Capital - money that is used to produce greater wealth. It is one of the three basic factors of production (land, labor and capital) that are necessary to manufacture goods and services in order to satisfy human needs.
• Production - something that is produced (obvious)
• Quota - a fixed amount. Quotas are for example used in foreign trade policy when a limit is established in the number of products that can enter in the markets of a certain country.