PPT-Specialization, Trade, and Interdependence

Lesson 4 Part 1 Specialization The Uneven Distribution of the Factors of Production The factors of production land labor capital and entrepreneurship are not spread evenly around the world. Minutes needed to make one ounce of:. Amount produced in 8 hours:. Meat. Potatoes. Meat. Potatoes. Farmer. 60 min/oz.. 15 min/oz.. 8 oz.. 32 oz.. Rancher. 20 min/oz.. 10 min/oz.. 24 oz.. 48 oz.. Note that the Production Possibilities Frontier is also the Consumption Possibilities Frontier if the two farmers do not trade. Why?. 2 I. F ree trade allows specialization, encour ages competition and generally enhances efficiency . However, when it comes to heavily regulated products such as prescription drugs, globalization imp 2. Previously. Economics is the study of how people allocate their limited resources to satisfy their nearly unlimited wants. . “. Scarcity. ”. refers to the limited nature of . society’s . resources.. OBJECTIVE: SWBAT analyze the benefits of trade.. DO NOW: Why do you think it is important for industrialized countries like the United States of America to trade?. Consider your typical day:. You wake up to an alarm clock made in Korea.. Technological revolutions. Global Interdependence has expanded hand-in-hand . with the growth of technology.. Since the end of World War II (1945) the world has . become a smaller place because of technological . Imagine that you are the manager of a fast-food restaurant. You are outgoing, interact well with customers, and work the cash register proficiently. You are also efficient in the kitchen and can manage several tasks at once, such as making pizzas, preparing salads, and filling drinks. . Chapter 19.2 & Chapter 26.2. 19.2 Review . What are the 2 main sectors of the US economy?. How does the government sector interact with the above sectors?. What benefits and drawbacks are there to the foreign sector in our economy?. Presentation, Graphic Organizers, & Activities. Southwest Asia’s. VOLUNTARY. TRADE & OPEC. STANDARDS:. SS7E6 The student will explain how voluntary trade benefits buyers and sellers in Southwest Asia (Middle East). . Voluntary trade occurs when . both parties . in a transaction see that they are going to . benefit. . from the exchange.. It is the key to a healthy economy.. What is voluntary trade?. Encourages specialization.. The . action . of buying . and selling . goods . and services. .. A . basic economic concept that involves multiple parties participating in the voluntary negotiation and then the exchange of one's goods and services for desired goods and services that someone else possesses. . explain how . voluntary trade benefits buyers and sellers in Africa.. Voluntary trade occurs when . both parties . in a transaction see that they are going to . benefit. . from the exchange.. It is the key to a healthy economy.. Latin America’s. VOLUNTARY. TRADE. STANDARDS:. SS6E2 The student will give examples of how voluntary trade benefits buyers and sellers in Latin America and the Caribbean and Canada. . a. Explain how specialization encourages trade between countries. . explain how . voluntary trade benefits buyers and sellers in Africa.. Voluntary trade occurs when . both parties . in a transaction see that they are going to . benefit. . from the exchange.. It is the key to a healthy economy.. Curriculum Instruction EdDStudents in the CI EdD complete 15-18 credits of coursework in an area of specialization Current specializations are listed in alphabetical order below along with suggestedc