"A Thirst for Trade"Introduction
Students have learned about the importance of international
trade. In this exercise, students will explore the factors
that a business must consider when choosing to trade with
other nations. Lesson
Description
Students will use information from the International Trade
Administration Web site to learn about how companies can initiate
trading with other markets. Students will assume they are
the owners of a beverage company, and analyze a chart about
the top 25 importers of U.S. beverages. They will choose a
nation to target for trade, and research that nation's cultural
and business customs as they relate to trade. Students will
then answer four questions and apply this information by preparing
a market analysis of the targeted nation. Previous Knowledge Expected
Trade Agreements: agreements between nations to lower
trade restrictions Applied Content Standards (from the National Council on
Economic Education)Standard 5: Voluntary exchange occurs only when all
participating parties expect to gain. This is true for trade
among individuals or organizations within a nation, and among
individuals or organizations in different nations.
Standard 6: When individuals, regions, and nations
specialize in what they can produce at the lowest cost and
then trade with others, both production and consumption increase. Instructional Objectives - Students will be able to choose the best market for a product
by comparing economic, cultural, and trade data concerning
25 countries.
- Students will be able to use this knowledge to prepare
a short market analysis detailing the best target for trade.
Student Activity Answers
1-3: Teacher may prepare an answer sheet from the most recent data from the International Trade Administration.
4: Students' answers will vary.
5: Students' reports will vary.
| 
