The dimensions of a small rectangular prism are half those of a larger rectangular prism. The volume of the larger prism is 32 cubic metres. What is the volume of the smaller prism in cubic metres?

Let x be the length of the smaller prism.

The length of the larger prism is 2x.
Let y be the width of the smaller prism.
The width of the larger prism is 2y.
Let z be the height of the smaller prism.
The height of the larger prism is 2z.
The volume of the smaller prism is xyz cubic metres.
The volume of the larger prism is (2x)(2y)(2z)=8xyz cubic meters.
Therefore, xyz=32/8=<<32/8=4>>4 cubic meters. Answer: \boxed{4}.