Activity 1

a) Listen to extract one and:

Extract 1[zoom..]

I - State whether the following are True or False. Justify your answers.

1. It is trade that has enabled communities to live comfortably.

	True
	False

2. Trading activities have been restricted to urban areas.

	True
	False

human beings everywhere from the countryside to the cities, have been trading.

3. The existence of non-locally made products thousands of miles from where they were produced suggests an early form of international trade.

	True
	False

4. In the olden times, when disputes arose over the terms of trade, countries resorted to international arbitration.

	True
	False

each country has its own laws by which to settle the disputes peacefully.

II - Referring to the information provided by the extract, tick the best option(s):

1. The WTO was created to:

	- Establish the rules of international trade.
	- Settle disputes before they degenerate into wars.
	- Bring in a new globalized economic order.

2. To illustrate the interdependence of countries through trade the following examples are given:

	- The assembling of computers, cars and washing machines.
	- The assembling of cars only.
	- The integration of agricultural production.

3. For trade to be beneficial for all, trade must be:

4. By closing its borders to imports, a country ends up:

	- affecting its own exports and creating unemployment
	- improving its trade balance.
	- forcing the other countries to do the same.