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- Review content from the previous session.
- Explain that economic and social interactions change over time. Display the following changes on the board or overhead, and discuss them with the students, providing examples:
• Industrial labor systems (e.g., cottage industry, to factory, to office, to telecommunications)
• Migration from rural to urban areas
• Export by industrialized countries of labor-intensive work to developing nations
• Growth of trade alliances
• Growth of service (tertiary) industries
• Growth of financial services networks and international banks
• Internationalization of product assembly (e.g., vehicles, electronic equipment)
• Technology that allows instant communication among people in different countries, i.e., e-mail, voicemail, fax
• Modern transportation networks that allow rapid and efficient exchange of goods and materials (e.g., Federal Express, United Parcel Service, U. S. Postal Service)
• Widespread marketing of products (e.g., Fuji film, Nike products, United Colors of Benetton products)
- Explain that many countries participate in economic unions. Examples of these unions include:
• EU — European Union
• NAFTA — North American Free Trade Agreement
• ASEAN — Association of Southeast Asian Nations
• OPEC — Organization of Petroleum Exporting Countries
- Explain that belonging to an economic union has advantages and disadvantages for countries, as shown:
• Advantages of economic unions
• More efficient industriesAccess to larger markets
• Access to national, human, and capital resources without restrictions
• Greater influence on world market
• Disadvantages of economic unions
• Closing of some industries
• Concentration of some industries in certain countries, leaving peripheral areas behind
• Agribusiness replacing family farms
• Difficulty in agreeing on common economic policies
• Increased competition between trade blocs may marginalize non-member countries
- Assign a teacher-selected reading, worksheet, or other reinforcement activity, using available teacher resources.
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