Lesson #3 - Ship's Hold

Objectives

In this activity you will:
  • investigate and compare the exports and imports of Maryland and the United States, and
  • investigate how goods are traded between nations using currency exchange rates.

Introduction

In class, you have discussed the difference between "imports" and "exports" and some of the reasons why trade takes place between nations. What nations do you think Maryland trades with today? The following lesson will help you discover some reasons for international trade and how currency exchange allows trade to take place.

Activities

Step One
On a sheet of paper, write the names of five countries to which you think Maryland exports the most goods.

To see a list of the countries to which Maryland businesses exports goods and services, you will view a list provided by the Richmond Federal Reserve Bank.

Once you go to this page you will need to use the "Back" button on your Internet browser to return to this lesson.

Now find the top five nations to which Maryland businesses exports goods and services.

Make sure you make any corrections to your original list. Now, what types of products do you think that Maryland exports to other nations? On your paper, list 5 categories of products you think Maryland businesses sell to other countries.

Again, the Richmond Federal Reserve Bank provides the answer to this question. Remember that you will need to use the "Back" button on your Internet browser to return to this lesson.

Now find the five types of products that Maryland businesses export the largest amount to other nations. Make sure you correct your original list.

Continue the lesson by clicking the "Ahead" button below.

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