TEKS: Chapter 118. Economics See All Teacher Resources

118.4.c.3

(3) Economics. The student understands the reasons for international trade and its importance to the United States and the global economy. The student is expected to:

• (A) explain the concepts of absolute and comparative advantages;
• (B) apply the concept of comparative advantage to explain why and how countries trade; and
• (C) analyze the impact of U.S. imports and exports on the United States and its trading partners.