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Beginning Activities Title today’s lesson: Absolute and Comparative Advantage Notes Activity: Use pages 469-470 to explain the difference between absolute.

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Presentation on theme: "Beginning Activities Title today’s lesson: Absolute and Comparative Advantage Notes Activity: Use pages 469-470 to explain the difference between absolute."— Presentation transcript:

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?


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