E.43 Define aggregate supply and demand, Gross Domestic Product (GDP), economic growth, unemployment, and inflation. E.48 Illustrate and explain how the relationship between aggregate supply and aggregate demand is an important determinant of the levels of unemployment and inflation in an economy. Economics: Principles & Daily formative Week 9 Trade Practices (2007) textbook assessments on previous Chapter 16. day’s learning targets. Students will understand why Analyze the impact of U.S. imports individuals, businesses, and and exports on the U.S. and its trading Chapter 16 quiz. partners. governments trade goods and services and how trade affects the Explain the concepts of absolute and economies of the world. comparative advantage and the concept of comparative advantage to E.54 Examine evidence in explain why and how countries trade. informational texts to explain the benefits of trade among individuals, Define various types of trade barriers. regions, and countries. Compare the effects of free trade and E.55 Define and distinguish trade barriers on economic activities. between absolute and comparative Evaluate the benefits and of advantage and explain how most participation in international trade agreements. trade occurs because of a comparative advantage in the
E.43 Define aggregate supply and demand, Gross Domestic Product (GDP), economic growth, unemployment, and inflation. E.48 Illustrate and explain how the relationship between aggregate supply and aggregate demand is an important determinant of the levels of unemployment and inflation in an economy. Week 9 Trade Students will understand why individuals, businesses, and governments trade goods and services and how trade affects the economies of the world. E.54 Examine evidence in informational texts to explain the benefits of trade among individuals, regions, and countries. E.55 Define and distinguish between absolute and comparative advantage and explain how most trade occurs because of a comparative advantage in the Analyze the impact of U.S. imports and exports on the U.S. and its trading partners. Explain the concepts of absolute and comparative advantage and the concept of comparative advantage to explain why and how countries trade. Define various types of trade barriers. Compare the effects of free trade and trade barriers on economic activities. Evaluate the benefits and of participation in international trade agreements. Economics: Principles & Practices (2007) textbook Chapter 16. Daily formative assessments on previous day’s learning targets. Chapter 16 quiz.
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