1. Trade

2. Trade and Geography Trade Geography can give a country or region advantages in production and in trade – The more resource a country has the more advantage they have with that product – Countries with few resources have to trade for the resources they lack

3. Types of Trade Producers and consumers can buy from or sell to producers and consumers in other countries – International trade Exports – Goods and services sold outside a country’s borders Imports – Goods and services that are sold in a country that are produced in other countries Free trade – Removal of trade barriers Trade barrier – A government policy that limits international trade

4. Resources and Economies Countries with large quantities of resources produce more than countries with small quantities of resources Reliance on one or only a few resources can leave a country at risk Resources hold more value when they are in high demand – Oil and gass