Benefits of international trade

• Economie
• Secondary Education

Brainstorm

Give the benefits of international trade.

Chapter 17

Section 1: Benefits of International Trade

Pages 510 -519

Objectives

Determine the economic success with few natural resources

Analyze the effect of international trade on prices and quantity

Discuss how international trade help to create jobs

Some economies thrive as a direct result of natural re-

sources—Saudi Arabia and its oil, for instance. But, many

nations, such as the Republic of Ireland, thrive economically

in spite of a relative lack of natural resources.

Case study

Answer

1. manufacturing​​

2. An economy focused solely on natural

resources could be negatively affected

by changes in the resources’ supply or

demand.​

Give answers for the above question here.

What is goods and services produced in one country and sold to other countries?

1. Imports
2. Free trade
3. Globalization
4. Export

Answer in the next slide

Answer the above question.

Answer

Figure 17.2: initial, $6,000; post-shift,

$8,000

Figure 17.3: initial, $70; post-shift, $40

As nations specialize in their changing areas of strength, the availability of certain jobs can undergo dramatic changes

How do you think trade create employment opportunity?Give examples to support your answer.

Answer

 It can help create jobs when higher prices for exported goods motivate producers to produce more, leading to economic expansion. It shifts jobs by requiring, for efficiency, that nation

Give a term of the lesson and speak about it.