Social Studies - 2019-20
WG.17 c - Mapping, Describing, and Evaluating Economic Unions
The student will apply social science skills to analyze the impact of globalization by
c) mapping, describing, and evaluating economic unions.
Adopted: 2015
BIG IDEAS
Theme: Globalization + Interdependence
How do people respond to the unequal distribution of resources? |
Do the benefits of globalization and interdependence outweigh the cost? |
UNDERSTANDING THE STANDARD
As a global society, the world is increasingly interdependent.
Economic interdependence fosters the
formation of economic unions.
ESSENTIALS
Economic interdependence can be depicted through trade, resource, or transportation maps.
Examples of economic unions
- EU: European Union
- NAFTA: North American Free Trade Agreement
- ASEAN: Association of Southeast Asian Nations
- OPEC: Organization of the Petroleum Exporting Countries
Advantages of economic unions
- More efficient industries
- Access to larger markets
- Access to natural, human, and capital resources without restrictions
- Greater influence on the world market
Disadvantages of economic unions
- Closing of some industries
- Concentration of some industries in certain countries, leaving peripheral areas behind
- Difficulty in agreeing on common economic policies
KEY VOCABULARY
Updated: Jun 13, 2018