Lesson Details

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.

Concepts:

  • Choice
  • Future Consequences
  • Incentive
  • Opportunity Cost
  • Voluntary Trade
Standards:
  • Standard #6: Specialization

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