Ch01.1 Import and export; exchange rates

• Economie
• Middelbare school
• vwo
• Leerjaar 3

Welcome

3 TVWO |  2020-2021

Society

Chapter 1

The Netherlands and the world

Today's learning outcome

By the end of this lesson you should be able to...

- explain the difference between import and export;

- explain why we trade with other countries;

- calculate how much something cost abroad using the exchange rate.

 

Import:

Buying goods and services from another country to use in your own country

Import:

Buying goods and services from another country to use in your own country

Export:

Selling goods and services you've produced to other countries.

Google the most imported good/service in the Netherlands.

Why should we trade
with other countries?

Netherlands

Cool, cloudy and humid climate

Expensive

Indonesia

Tropical climate

Cheaper

Why we trade with other countries

Or because you're better at something

That will give you a better international position.

The price you pay for international trading

The exchange rate is the price for a coin expressed in another coin.

€1 =  $1,10

So, a €5 sandwich cost $5,50 in America.

€1 = $1,10

How much is $1 in euro's?

Lucas and Fleur booked a shopping trip to London. The bought €500 worth of £. The exchange rate at that moment was €1 = £0,84.
How much £ did they receive for their €500?

Homework

Society

Chapter 1

Assignments 1.1 up to and including 1.5

Importance: 

Practice with calculating with the exchange rate.