Specialization and Trade - Australia

Specialization and Trade - Australia

62.a: explain how specialization makes trade possible between countries

Poll

Please rate your current understanding of "Specialization"

• I am an expert!

• I understand what it is

• I know a little bit about it

• I'm not really sure what it is

Multiple Choice

What does this person "specialize" in?

• Creating art

• Medical care

• Cooking food

• Animal care

Open Ended

What is something YOU specialize in?

Multiple Choice

Imagine that you specialize in cooking food. Who would be the best choice if you were going to start a new trade relationship?

• a teacher

• a basketball player

• a dancer

• a farmer

Open Ended

How could a chef and a farmer help each other through trade?

Working together in trade

Countries are usually unable to produce EVERYTHING their citizens want and need.

Therefore, they look to form trade relationships with other countries that can help meet the demands.

By doing this, countries can focus on producing fewer goods, more efficiently (specialization), and import the rest.

Multiple Choice

Examine this visualization of Australian Exports in 2018.

Which answer best describes what they specialize in?

• Extraction of natural resources

• Manufacturing of goods

Open Ended

Examine this visualization of Australia's Export Destinations for 2018 (the countries they sent goods to).

The largest percentage of exports were shipped to China.

Why do you think this happened?

Multiple Choice

Examine this visualization of Australian Imports in 2018.

Which answer best describes what they imported most?

• Natural Resources

• Manufactured Goods

Open Ended

Examine this visualization of Australia's Import Origins for 2018 (the countries they bought goods from).

The largest percentage of imports were shipped from China.

Why do you think this happened?

Open Ended

How does specialization affect the trade relationship between China and Australia?

Poll

Please rate your current understanding of "Specialization"

• I am an expert!

• I understand what it is

• I know a little bit about it

• I'm not really sure what it is