Imports and Exports

Do countries specialize?

• Yes
• No

Something people use is called  ____________.

• a Need
• a Resource
• an Export

The definition of TRADE is __________________.

• Importing goods
• to buy or sell goods or services
• Exporting goods

The United States EXPORTS

• Kangaroos
• Airplanes
• Cocoa Beans

The United States IMPORTS

• Corn
• Airplanes
• Toys

Why does the United States need to import products?

• The US does not import products
• Some are easier and cheaper to make in other countries
• The US makes all of its own products

Import means

• buying goods from another country
• selling goods to another country
• only making one kind of product

Export means

• buying goods from another country
• selling goods to another country
• only making one kind of product

Importing and Exporting are needed because countries specialize.

• True
• False