Define trade, international trade, comparative advantage, trade protection, and a disadvantage of free trade.

QUESTION 1
Trade is defined as the swapping or exchange of goods and services.
The correct option is A.
$\boxed{\text{A. swapping or exchange of goods and services.}}$

QUESTION 2
International trade is defined as the buying and selling of goods and services to and from other countries.
The correct option is C.
$\boxed{\text{C. buying and selling of goods and services to and from other countries.}}$

QUESTION 3
A country is said to have a comparative advantage when it can produce a product at a lower opportunity cost than another country with a given resource.
The correct option is B.
$\boxed{\text{B. at a lower opportunity cost than another with a given resource.}}$

QUESTION 4
Trade protection is a measure taken by the government to impose artificial barriers to trade, typically to protect domestic industries.
The correct option is A.
$\boxed{\text{A. a measure taken by the government to impose artificial barriers to trade.}}$

QUESTION 5
While free trade has many benefits, a potential disadvantage is that domestic industries unable to compete with foreign producers may decline, leading to job losses and a rise in short-term unemployment.
The correct option is D.
$\boxed{\text{D. It may lead to a rise in short term unemployment.}}$