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Where in the World?. Where were these products made?. Pick from the following countries. France Finland Germany Great Britain Japan Netherlands South Korea Sweden Switzerland United States. Learning Goals. Today you should be able to . . .
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Where in the World? Where were these products made?
Pick from the following countries France Finland Germany Great Britain Japan Netherlands South Korea Sweden Switzerland United States
Learning Goals Today you should be able to . . . Explain why countries specialize and trade. Because . . . this will you understand what how people get the resources they need and want.
Why does this matter? You wouldn’t have these products if it wasn’t for . . . specialization & trade
Specialization • When countries only make certain products • Caused by scarcityof resources • Countriesproducea smaller range of goods and services than they consume • leads to trade • increases interdependence
Trade Specialization leads to free trade & interdependence • free trade - international trade free of government control and trade barriers • interdependence- when countries rely on each other for resources, goods, or services
Specialization & Trade Demo Why? Because each country’s resources is best suited to those products Country A specializes in rectangular cards Country B specializes in triangular cards
Scarcity of Resources COUNTRY A COUNTRY B Triangle cards Plain paper Scissors Markers Hole punchers Rulers Ribbon • Rectangular cards • Plain paper • Scissors • Markers • Pencils • Paper clips
Round 1 5 minutes to produce as many HIGH quality products as possible
Count the number of products you produced. • Discard poorly made products.
Specialization Each country specializedin producing of one good over another because of available resources (scarcity).
Round 1 Reflection Questions ONLY Round 1 questions 1-4
Round 1 Reflection • A) What do you think might happen to the quality of each country’s products if it produced for another round? B) Why? • A) What do you think might happen to the number of products that are produced if each country produced for another round? B) Why? • What might each country do if it wanted to both rectangular and triangular cards? • If each country _____________ one quarter (1/4, 25%) of its cards, how many cards of each type will Country A have? Country B?
Round 2 6 minutes to produce as many HIGH quality products as possible Both countries must produce BOTH goods NO trading allowed
trade barrier - any action a government uses to control trade between countries • tariff - an extra price or tax added onto imported products • quota - a limit on how much of something may be imported • embargo - when a country won't trade with another country at all
Trade Barriers Which is Which?