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Copy of SS7E2 (Specialization)

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by

Kevin Hartwell

on 26 November 2012

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Transcript of Copy of SS7E2 (Specialization)

Specialization Tariffs, Quotas, and Embargos SS7E2 The student will explain how voluntary
trade benefits buyers and sellers in Southwest Asia.
a. Explain how specialization encourages trade
between countries. Compare and contrast
different types of trade barriers, such as
tariffs, quotas and embargoes.
b. Explain why international trade requires a
system for exchanging currencies between
nations. What is trade?

An exchange or transfer of goods and services from one country to the next. What is specialization and how might
a country benefit from specialization?
Specialization - Dedicating your time and energy on something you are really good at.

Examples) Many medical doctors specialize
in certain types of specialities (Cardiologist (heart), gyneocologist (females only).
A country that produces only one type of fruit such as bananas or pears but sells it commercially to other countries. Specialists at work.... Gyneocologist Cardiologists Advantages and Disadvantages
of Specialization

Advantages:

1. Increases efficiency
2. Saves time
3. Accuracy in production
4. Reduces cost

Disadvantages

1. Create monopoly
2. Limits the freedom of the choice of
work. - vs. Tariff - A tax place on imported goods.

Example) Mercedes Benz (Made in Germany
Chevy Camaro (Made in U.S.) Quotas-A type of trade restriction or
limit on items to be manufactured,
imported, or exported. Embargo- A government order prohibiting, banning or stopping trade with a foreign country. Analyze the following political cartoon,
what is the author trying to get you to see? Monopoly - Having exclusive possession or control of the supply or trade of a product or service. Performance task:

Using your Social Studies journals/notebooks, name at least 10 examples of imported goods and 10 examples of exported goods bought and sold in the U.S. Be prepared to share out with the class when you are done. Trade barriers - Obstacles such tariffs, embargoes, and quotas that slows or prevents a country from exchanging goods with another. Specialization Specialization specialization specialization Voluntary Trade - when people or countries are trading and they both see they can benefit from the trade.
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