Chapter 9

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 total dollar amount of all final goods and services produced in a country in a year divided by the country's population.

• Gross Domestic Product (GDP)

• Gross Domestic Product per Capita

• Standard of Living

• Scarcity

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

Which of these is not a cost of global trade?

• American workers lose jobs
• Workers in foreign country get less pay
• Local companies lose business
• Allows people to buy things from all over the world

Which of these is not a benefit of global trade?  

• Allows people to buy things from all over the world
• Allows people to enjoy quality goods
• Allows people to pay less for goods
• People stop buying things made locally

Use the chart to answer the question:

Which country might trade its agricultural technology for petroleum? 

• Nigeria
• South Africa
• Saudi Arabia
• Israel

Use the chart to answer the following question:

Why might China wish to engage in trade with South Africa?

• South Africa has many valuable minerals needed by industry. 
• South Africa's large labor force enables it to produce cars inexpensively. 
• South Africa's high-tech industries allows its workers to specialize in computers. 
• South Africa's large number of industries allow it to export machinery