1. Objective 9.20

2. INTERNATIONAL TRADE

3. Assess the costs and benefits of international trade

4. is the buying and selling of goods & services To a worldwide market
GLOBAL ECONOMY
is the buying and selling of
goods & services
To a worldwide market

5. is the reliance of countries on one another for
INTERDEPENDENCE
is the reliance of countries
on one another for
products, services, raw materials

6. All nations buy and sell goods and services to increase their wealth!
INTERDEPENDENCE
All nations buy and sell goods and services to increase their wealth!

7. is the offering of goods, services, and resources a nation does best
SPECIALIZATION
is the offering of
goods, services, and resources a nation does best

8. Middle Eastern countries – oil
SPECIALIZATION
example:
Middle Eastern countries – oil
Costa Rica – bananas
Japan - technology

9. can lower the price of goods due to technological advances
TECHNOLOGY
can lower the price of goods due to technological advances

10. Example: computers cell phones
TECHNOLOGY
Example:
computers
cell phones

11. BENEFITS of international trade

12. BENEFITS
Each country is able to get goods and services they may not be able to produce

13. Goods and services can be bought at a lower price
BENEFITS
Goods and services
can be bought
at a lower price

14. Efficiency and economic growth is promoted because of specialization
BENEFITS
Efficiency and economic growth is promoted because of specialization

15. A wider variety of goods is available to each country
BENEFITS
A wider variety of goods is available to each country

16. COSTS of international trade

17. Increased competition
COSTS
Increased competition

18. Lower prices for producer
COSTS
Lower prices for producer

19. COSTS
Loss of jobs

20. Relocation of companies
COSTS
Relocation of companies