Section outline

  • • We can’t produce everything we need or want, so people trade to get things.

    • People, states, and countries specialize in producing certain goods and services.

    • The more people, states, and countries specialize and trade, the more interdependent they become.

    • Trade is important to the economy of Michigan.

    • Michigan exports goods like cars to other places.

    • Michigan imports goods like computers and bananas from other places.