This packet is designed to have students learn about trade barriers, GDP, and factors of production in the context of literacy. Students will answer multiple choice questions by using the text provided. Each concept is paired with a literacy strategy worksheet in order to help students practice literacy skills such as making an inference, summarizing, and comparing and contrasting.
Explain the relationship between investment in human capital (education and training) and gross domestic product (GDP)
Explain the relationship between investment in capital (factories, machinery, and technology) and gross domestic product (GDP)
Describe the role of natural resources in a country's economy
Compare and contrast different types of trade barriers such as tariffs, quotas, and embargos