Introduction
Students have learned about the importance of international trade. In this exercise, students will explore the factors that a business must consider when choosing to trade with other nations.

Lesson Description
Students will use information from the International Trade Administration Web site to learn about how companies can initiate trading with other markets. Students will assume they are the owners of a beverage company, and analyze a chart about the top 25 importers of U.S. beverages. They will choose a nation to target for trade, and research that nation's cultural and business customs as they relate to trade. Students will then answer four questions and apply this information by preparing a market analysis of the targeted nation.

Previous Knowledge Expected
Trade Agreements: agreements between nations to lower trade restrictions

Applied Content Standards (from the National Council on Economic Education)
Standard 5: Voluntary exchange occurs only when all participating parties expect to gain. This is true for trade among individuals or organizations within a nation, and among individuals or organizations in different nations.
Standard 6: When individuals, regions, and nations specialize in what they can produce at the lowest cost and then trade with others, both production and consumption increase.

Instructional Objectives
1. Students will be able to choose the best market for a product by comparing economic, cultural, and trade data concerning 25 countries.
2. Students will be able to use this knowledge to prepare a short market analysis detailing the best target for trade.

Student Activity Answers
1-3: Teacher may prepare an answer sheet from the most recent data from the International Trade Administration.
4: Students' answers will vary.
5: Students' reports will vary.

Go To Student Web Activity