Specialization and trade

Goods and services produced in other countries and sold at home

• Imports
• Exports
• Specialization
• Globalization 

Good and services produced at home and sold in other countries

• Imports
• Exports
• Specialization
• Globalization

A focus on developing only certain skills or producing only certain goods/services

• Imports
• Exports
• Specialization
• Globalization

The process by which people and economies around the world are becoming increasingly interconnected

• Imports
• Exports
• Specialization
• Globalization

When one person or group depends on or relies on another

• Import 
• Specialization
• Interdependent
• Export

Specialization focuses on producing______________.

• a variety of activities or products.

• one particular kind of activity or product.

Interdependence is

• when one country is self sufficient and does not rely on other countries for goods or services.

• when two or more countries rely upon each other for goods and services.

A focus on developing only certain skills or producing only certain goods/services

• Imports
• Exports
• Specialization
• Globalization

The process by which people and economies around the world are becoming increasingly interconnected

• Imports
• Exports
• Specialization
• Globalization

When one person or group depends on or relies on another

• Import 
• Specialization
• Interdependent
• Export