Lesson+01


 * Lesson 1 - Business in a Global Society**

• Imports – goods and service one country buys from another country • Exports – goods and services one country sells to another country • Balance of trade – the difference in value between how much a country imports and how much it exports • Multinational corporation-a company that does business and has facilities in many countries around the world • Exchange rate-the price at which the currency of one country can buy the currency of another country • Balance of trade-the difference in value between how much a country imports and how much it exports • Protectionism-limiting trade with other countries to protect business at home • Tariff-a tax placed on imported products to make them more expensive than domestic products • Quota-a limit placed on the quantities of a product that can be imported • Embargo-a ban on the import or export of a product • Free trade-few or no limits on trade between countries ||
 * **Important Terms for this Lesson:**

Lesson 1-Mini Project: Global Product Map Objective: Given access to the lesson materials, students will distinguish between domestic business and international business by creating a list of common products and a digital map that marks the location where the products were manufactured.

Students will post their maps on this page. Under their map, they will express how business in a global society affects them.

Jarvis Johnson - Global Map

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