5 GAIN FROM TRADE
Voluntary exchange occurs only when all participating parties expect to gain. This is true for trade among individuals or organizations within a nation, and usually among individuals or organizations in different nations.
At the completion of Grade 8, students will know the Grade 4 benchmarks for this standard, and also understand:
When people buy something, they value it more than it costs them; when people sell something, they value it less than the payment they receive.
Free trade increases worldwide material standards of living.
Despite the mutual benefits from trade among people in different countries, many nations employ trade barriers to restrict free trade for national defense reasons or because some companies and workers are hurt by free trade.
Imports are foreign goods and services that are purchased from sellers in other nations.
Exports are domestic goods and services that are sold to buyers in other nations.
Voluntary exchange among people or organizations in different countries gives people a broader range of choices in buying goods and services.
5 GAIN FROM TRADEVoluntary exchange occurs only when all participating parties expect to gain. This is true for trade among individuals or organizations within a nation, and usually among individuals or organizations in different nations.At the completion of Grade 8, students will know the Grade 4 benchmarks for this standard, and also understand: When people buy something, they value it more than it costs them; when people sell something, they value it less than the payment they receive.Free trade increases worldwide material standards of living.Despite the mutual benefits from trade among people in different countries, many nations employ trade barriers to restrict free trade for national defense reasons or because some companies and workers are hurt by free trade.Imports are foreign goods and services that are purchased from sellers in other nations.Exports are domestic goods and services that are sold to buyers in other nations.Voluntary exchange among people or organizations in different countries gives people a broader range of choices in buying goods and services.
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