Analyze reasons for individuals and businesses to specialize and trade, why individuals and businesses trade across international borders, and the comparisons of the benefits and costs of specialization and the resulting trade for consumers, producers, and governments.
E3.1 Economic Interdependence
Describe patterns and networks of economic interdependence, including trade.
6 – E3.1.1 Use charts and graphs to compare imports and exports of different countries in the Western Hemisphere and propose generalizations about patterns of economic interdependence.
6 – E3.1.2 Diagram or map the movement of a consumer product from where it is manufactured to where it is sold to demonstrate the flow of materials, labor, and capital (e.g., global supply chain for computers, athletic shoes, and clothing).
6 – E3.1.3 Explain how communications innovations have affected economic interactions and where and how people work (e.g., internet-based home offices, international work teams, international companies).
E3.3 Economic Systems
Describe how societies organize to allocate resources to produce and distribute goods and services.
6 – E3.3.1 Explain and compare how economic systems (traditional, command, and market) answer four basic questions:
What should be produced?
How will it be produced?
How will it be distributed?
Who will receive the benefits of production?
(e.g., compare United States and Cuba, or Venezuela and Jamaica.)
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