Lesson 63 of 84 ยท Trade and Commerce
โญ 30 XPโ Market PortNAFTA and Modern Trade Deals
Henry Ford's assembly line divided production into small repeated tasks, dramatically reducing car costs and making automobiles affordable for ordinary families.
๐ฏ Your mission
Trade-offs everywhere โ find them.
โก The twist
Cheap for you usually means expensive for someone else.
Mind = Blown
๐คฏ The first ATM was installed in 1967 โ and used radioactive ink.
Then & Now
๐ฑ This is happening in your local store every single day.
Henry Ford's assembly line divided production into small repeated tasks, dramatically reducing car costs and making automobiles affordable for ordinary families.
Key Facts
Supply and demand affect prices.
Trade connects people globally.
Every choice has an opportunity cost.
Check Your Understanding
Question 1
1 of 2What are goods?
Why this still matters
The next time you spend $1, ask: who else benefited besides you?
Stretch Challenge
Try this in real life this week.
Find two products that look similar but cost very different. Why?
For the dinner table
โIf you had $20 to start a business, what would you sell?โ
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