By the end of this section, you will be able to contrast traditional economies, command economies, and market economies; explain gross domestic product (GDP); and assess the importance and effects of globalization.

Reduced barriers to trade and communication across international boundaries have changed politics, culture, and economics across the globe.

Chapter 10 overview traces the history of U.S. foreign trade and global economic movement from a protectionist to more liberalized trade policies.

Article with charts and links to related material discusses how free trade is a result of comparative advantage, and how consumers can consume beyond their original production possibilities frontier if they specialize and trade.

By the end of this section, you will be able to do the following: Analyze GDP per capita as a measure of the diversity of international standards of living; Identify what classifies a country as low-income, middle-income, or high-income;...

By the end of this section, you will be able to do the following: Analyze the growth policies of low-income countries seeking to improve standards of living; Analyze the growth policies of middle-income countries, particularly the East...