Handout A: International Trade Graphic Organizer
An activity to help students define terms related to international trade and explore the benefits and drawbacks of various policy decisions.
Handout A: International Trade Graphic Organizer
Directions: Use the International Trade Essay and other sources as appropriate to fill in the table below. For the Questions column, write your own related questions that you are curious about. The first row is filled in as an example for you.
Respond to the questions at the end.
| Definition/examples | Benefits | Drawbacks | Questions | |
| International trade | Buying from and selling goods to foreign countries | Meeting needs and desires of people in both the home country and the foreign countries. | Corruption of/challenges to traditional products and teachings | What reasons might lead governments to impose restrictions on trade? |
| Free trade
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| Protectionism
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| Sanctions
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Reflection Questions:
- What was the purpose of the Embargo Act of 1807, which banned all international trade?
- List some results of the Embargo Act.
- What moral and ethical concerns may lead people to advocate trade restrictions?
- What is the most likely consequence for companies that fail to serve their customers?
- According to the reading, what do most economists believe about protectionism?
- Use the International Trade Essay and other sources as appropriate to answer: Should the United States go to war to advance economic interests?