1. Beginning Activities Title today’s lesson: Absolute and Comparative Advantage Notes Activity: Use pages 469-470 to explain the difference between absolute and comparative advantage Mission Statement: To prepare you for a life of responsible citizenship Daily Expectations: – No one leaves once class has begun. – Come in quietly and get to work immediately – Pay attention and be respectful – No phones – No food or drinks other than water – Do your work – Give AP quality effort 5 bonus points for supplies

2. Extra Credit 5 points each 6 weeks for bringing supplies: – Paper clips – Pens – Paper – Staples – Tape

3. Absolute and Comparative Advantage Chapter 17 International Trade

4. Basics of Trade The key to trade is specialization. Exports – the goods and services that a country produces and then sells to other nations Imports – goods and services that one country buys from other countries Without international trade, America wouldn’t have access to certain goods (such as bananas and coffee).

5. Gains From Trade Ideally, both nations get something out of the exchange. Trade imbalances occur when one nation imports significantly more than another.

6. Ending Activity Article Activity: Trade Deficit Make sure the floor is clean Connect to our objectives: How does this prepare you for life and the future?