CONTENT STATEMENT
19. The global economy creates advantages and disadvantages for different segments of the world’s population.
CONTENT ELABORATION
The 21st century is characterized by increased global trade and economic interdependence. In a global economy, economic activity crosses national and cultural borders, often resulting in new economic connections and increased interdependence.
While some nations and peoples benefit greatly from participation in the international marketplace, other segments of the world’s population may experience economic hardship.
Global competition can lead to advantages for some people, such as:
- increased employment;
- lower prices;
- increased consumer choices; and
- rise in the standard of living.
Global competition can lead to negative effects for some people, such as:
- loss of jobs;
- reduced wages;
- exploitation of workers;
- environmental damage; and
- natural resource depletion.
EXPECTATIONS FOR LEARNING
Evaluate how the changing global economy has created advantages and disadvantages for different segments of the world’s population.
Potential Careers:
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