About the Foreign Economics Lesson
This lesson on Foreign Economics provides an overview of international trade and economics. It gives a basic description of importing and exporting, along with major exports of international trade leaders.
• To be able to explain why countries trade
• To be able to explain how foreign trade effects daily life
What is Economics?
Economics is the study of production, distribution, and consumption of goods and services. The world economy depends on the system of economics between countries to work hand in hand. The United States imports goods and services from all over the world and exports its goods and services to other countries all over the world.
What Are Imports and Exports?
Imports are goods or services brought in from another country for trade. Exports are goods or services traded out to another country.
What is International Trade?