Import and Export

Import and export are key concepts to understand trade. Let's see what they are!

1)- Watch the first part of this video taken from YouTube and try to define in your own words what GDP is. 

2)- Listen to what he says GDP is and check if your guesses were right or not. 




3)- Watch the last part of the video and take down notes of words, ideas, examples, etc the speaker mentions to explain the following concepts:

• BALANCE OF TRADE
• IMPORTS
• EXPORTS

4)- Reflect upon the following questions to then post your opinion in the forum that corresponds to this class. 

• Why are the concepts of import and export key to understand GDP?
• Why do you think it is important to know the GDP of a country?
• Do you believe the GDP is a good way of measuring a countries' growth?
• What is imported and exported in our country? Give examples. 

LEARNING TIP: Remember to include some of the following phrases when giving your opinion: 

I think / I believe / From my viewpoint / I personally think that / I am convinced that /