Economics & Global Business
📋 What it is
Businesses connect across the world through trade; countries trade what they make well for what others make better.
🗣️ Coach says
Business is global. Countries trade because each can make some things better or cheaper than others — so everyone gets more by specialising and trading. The phone in your pocket was probably built from parts made on several continents.
🧠 Memory hook
Countries trade what they make well for what others make better. Specialise + trade.
😂 Giggle
What do you call a loan that tells jokes?
A laughing stock!
😲 Whoa!
A single smartphone can contain parts and materials from dozens of different countries around the world.
✅ Quick check: Why do countries trade with each other instead of making everything themselves?
Say your answer out loud first — then reveal.
Because each country can make some things better or cheaper (specialise); trading lets everyone get more than making it all alone.
Specialise-and-trade is the core idea of global economics.
🧪 Try it! (2 minutes)
Look at one product you own and see how many countries it lists on the label.