Commerce

High school (ages 12+)
People & Society

Name:

Date:

Step 1 · Read the article

Open the article and read it at the level above. Then answer the questions below in your own words.

https://smallwhale.org/articles/commerce

Write what each word means, using the article.

Do not copy the article. Write two things you learned, the way you would explain them to a friend.

Answers below are taken from the article’s stored facts, so they match what the student read.

1. What is the key auxiliary commercial services?Banking, credit financing, transportation, warehousing, communication, advertising, and insurance
2. What is the 20th century logistics innovation?The adoption of standardized shipping containers dramatically improved intermodal freight transport efficiency
3. How did people trade before money?They used barter, swapping items directly, but it was hard because both people had to want each other's exact goods.
4. Why did money become useful?Money helped trade because it was a common item everyone could use, so you didn't need to find someone who wanted exactly what you had.

Comparative Advantage: The ability of an entity to produce a good or service at a lower opportunity cost than others.
Auxiliary Commercial Services: Activities that support and facilitate trade, such as banking and transportation.
E-commerce: The buying and selling of goods and services over the internet.