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Business Education

Standard 31.Understands significant aspects of international business and trade and the opportunities they creates at the local, state, national, and international level
  Level IV (Grade 9-12)
   1. Knows the resources of major cities of the world (e.g., ports; trade routes; transportation centers; foreign trade zones; natural, financial, and human resources)
   2. Knows ways in which participation in international trade affects a country‚Äôs economic potential to improve its quality of life
   3. Understands the impact of the importing and exporting process (e.g., benefits and costs of indirect and direct exporting; reasons businesses export; different forms of importing)
   4. Knows regions that are significant to international trade (e.g., European Community, Middle East, Pacific Rim, South and Central America, United States, Canada, Mexico, Commonwealth of Independent States)
   5. Understands factors that influence the balance of international trade (e.g., different types of trade barriers, international trade agreements, positive and negative trade balances, the influence of trade sanctions)
   6. Understands the elements of international finance (e.g., currency values and foreign exchange rates; the effects of international currency exchange and foreign exchange markets on international business; elements of the international monetary system)
   7. Understands the role of risk management in international business (e.g., types of risks; ways to protect against trade risks)