1. Mr. Alexander needs to…
Be more thorough on requirements for assignments.
Be more specific about setting due dates!
Review concepts to ensure understanding.
Give more definitive notes.

2. A Review The fundamental premise of all business, is trade.
International trade is the basis of international business.
International trade involves companies importing and exporting products to fulfill their needs and those of their trading partners.

3. Advantages Advantages Meeting our needs. Creating Jobs.
Driving changes in technology.
Diversifying products and services.

4. Disadvantages Support of Non-Democratic Systems
Cultural Identity Issues
Social Welfare Issues & Exploitation
Environmental Issues

5. Barriers to Trade
Tariffs
Currency Fluctuations

6. A Global Presence

7. If the world’s population could be ‘boiled down’ to 100 people…..

8. 50 would be male, 50 would be female
75 would be non-white; 25 white
67 would be non-Christian; 33 would be Christian
80 would live in substandard housing
16 would be unable to read or write
50 would be malnourished and 1 dying of starvation
33 would be without access to a safe water supply
39 would lack access to improved sanitation
24 would not have any electricity (And of the 76 that do  have electricity, most would only use it for light at night.)
8 people would have access to the Internet
1 would have a college education
1 would have HIV
2 would be near birth; 1 near death
5 would control 32% of the entire world's wealth; all 5 would be US citizens
48 would live on less than US$ 2 a day
20 would live on less than US$ 1 a day

9. Trade Balance Trade Surplus Trade Deficit (or Trade Gap)
When we sell more than we buy, around the world, we have a trade surplus.
Trade Deficit (or Trade Gap)
When we buy more than we sell, we have a trade deficit.

10. Export Apples: $65,000,000
Import Oranges: $50,000,000
Trade Surplus: $15,000,000

11. Stats Canada
If we go to Statistics Canada (a reliable source of information) – we can search ‘Trade Balance’
This allows us to see whether we have a trade surplus or deficit with our trading partners.
We can also see the overall picture.
Which is better? (Surplus or Deficit?)

13. GDP
Gross Domestic Product

14. GDP To know the GDP of a country, one would need to add up:
consumer spending
investment spending
government spending 
and the value of the exports and subtract the value of the imports.

15. The Gross Domestic Product is a good indicator on the wealth of a country’s economy. (And how well off the country’s population is.)

16. GDP Per Capita Per Capita means per person.
We can find the GDP per capita by dividing GDP by the population size of the country.
Canada GDP: $1,580,000,000,000
Population: 34,100,000
GDP Per Capita: $46,334

17. $10,700 – GDP Per Capita

18. Statistics Canada is a reliable resource for much of this information.
Note 1
International trade involves meeting the needs of our global trading partners through the export of goods and meeting our own needs through importing. There are advantages to international trade, including diversifying the products and services available to us, creating jobs, and driving changes in technology. There are also disadvantages, including supporting non-democratic regimes and leaders, destroying culture, exploiting low paid employees, and hurting the environment. Through the good and bad, countries must also deal with trade barriers such as tariffs and currency fluctuations which sometimes encourage and sometimes discourage international trade.
When trading with another country, we have a trade surplus when our exports exceed our imports. We have a trade deficit (or trade gap) when our imports exceed our exports. We have a trade balance when they are equal. A trade deficit usually means we have to borrow money to satisfy our needs.
Statistics Canada is a reliable resource for much of this information.
The Gross Domestic Product (GDP) of a country includes consumer spending, investment, government spending, and imports minus exports. It is a good indicator of the health of a nation's economy. It can be divided by the number of people in the nation to find the GDP per capita.

19. Activity Let’s look at page 37 of your textbook.
Cuba is an international trading partner of Canada.
What is the GDP of Cuba?
What is the trade surplus / deficit?

20. You will pick a country, that is a trading partner of Canada, and construct a similar ‘snapshot’ page. (Using the same categories.) Your page will need to be a PDF.
You must include the sources of your information as footnotes.
You will have the rest of today, and Monday’s period to work on this. It will be due Tuesday during class. (March 6)