Unit 7: Lesson 39 - Why Go Global?
Students examine an economic mystery regarding the importance of U.S. participation in the global economy. They participate in a demonstration regarding imported clothing. They use the Guide to Economic Reasoning to explain that, while exports and imports may be a relatively small part of the U.S. economy, international trade benefits the United States and its trade partners.
- Future Consequences
- Opportunity Cost
- Voluntary Trade
- Standard #6: Specialization