Economic Interdependence

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

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

Money coming into a country from investors in another country

• Foreign investment
• Local Investment
• Trade Investment
• Country Investment 

Farmers in Great Britain have turned to raising sheep for wool and meat. The abundance of wool helped Great Britain to develop a large textile industry. These textiles are now shipped around the world. Wool is one of Great Britain’s

• imports

• expenditures

• taxes

• exports

The increased flow of trade, people, technology, culture and ideas among countries.

• Colonization

• International trade

• Globalization

• Decolonization