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International Trade. Open economy = C + I + G+ (X-M) Adds in Exports and Imports, also known as…. International Trade!

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Presentation on theme: "International Trade. Open economy = C + I + G+ (X-M) Adds in Exports and Imports, also known as…. International Trade!"— Presentation transcript:

1 International Trade

2 Open economy = C + I + G+ (X-M) Adds in Exports and Imports, also known as…. International Trade!

3 An oldie but a goodie (1951) – How Foreign Trade Works 74YMKm2NE8 74YMKm2NE8

4 Surplus: Exports>Imports, or Net exports what country does this??? Deficit: Imports>Exports, or Net imports know any country that does this?

5 The good side of each: Trade surplus = More money and jobs, since people are buying all your stuff Trade deficit = More stuff at cheaper prices! The bad side of each: Trade surplus = Less stuff for your own people; dependent on foreign buyers Trade deficit = Jobs and money are going overseas; dependent on foreign producers

6 DVD Video Ch. 37: Trade

7 APIP 7: Hatfields and McCoys

8 Comparative advantage Quality Price Variety

9 $180,000 a year – thats what!

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12 Hint: It didnt turn out too well…..

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15 DVD: Street Meet: G20 Protest qwk&feature=related qwk&feature=related

16 Thanks for your attention!


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