A Global Economy

Select two options that the section "Trade Then and Now" talks about how goods are moved Today.

• mules

• cargo ship

• wagons

• jet plane

• stagecoach

What is an innovation?

• doing something the same way

• doing something a new way

• failing to do something

• working together on something

What are two innovations that have increased globalization?

• computers

• socks

• email

• books

• coffee

What are imports?

• good sold from your country

• goods that are made in outer space

• goods brought in from another country

• goods that no one wants

What are exports?

• goods shipped to another country to be sold

• goods bought from another country

• goods aliens bring to earth

• goods that are grown in another coutry

What are two examples of imported goods into the United States?

• apples

• figs

• wheat

• bananas

• labor

What are two examples of exported goods from the United States to other countries?

• sun glasses

• wheat

• apples

• cars

• computers

What is division of labor?

• only one person doing all the work

• the separation of a work process into different jobs

• running your own business

• having only one employee at a company

What is specialization?

• having more than 10 employees at your business

• a person doing all the tasks for a company

• the ability for a person to focus on one single task

• running a company that is about to go bankrupt

What is productivity?

• the amount of time it takes to make a car

• the amount of time a person works in the day

• the amount a company spends to make a product

• The amount a company can produce with a certain amount of labor