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ANSWER KEY
I Spy Commerce in Action
1. Technology has transformed commerce. This man could be engaged in a local, domestic, or global transaction. 21st century commerce includes e-commerce which refers to transactions conducted over the internet on a personal computer or laptop, and m-commerce which includes sales transactions made on a hand-held mobile devices. With global b2c and b2b e-commerce annual sales expected to reach $2.357 trillion by 2017, reliable high speed broadband is an essential element of 21st century commerce. 2. Data about sales and trade is collected and analyzed by governments and private businesses. The data is an indicator of future sales and trade, and provides guidance and direction regarding programs, prices, and policies. The Consumer Price Index, Consumer Confidence Index and GDP are important economic indicators. To be financially literate, it is important to know a little about these. 3. Power and utilities are essential infrastructure for the smooth functioning of commerce. Reliable local power and utilities are important for the vibrant local commerce. 4. TeckeeTeck Worldwide is a multinational company. That means its headquarters are in one country, and offices and employees in another country or several other countries. Financial literacy includes knowing that innovation drives commerce and that consumers benefit when employers compete for qualified, innovative employees. Students will learn about innovation in a later lesson. 5. Small businesses such as this, are an important part of local commerce. They attract consumers and other businesses into a geographic area. They are key to the economic health of a region. 6. Money is an essential element of commerce. In a later lesson, students will learn about the key functions of money, how money has evolved over time, and how cash is no longer king. 7. Banks have a long history of supporting and enabling the growth of commerce. Banks can be local, national, or global. Financial literacy includes knowing the difference between commercial and investment banks, retail and business divisions. Students will learn about banks in a later lesson. 8. Reliable, safe, and speedy movement of goods and people locally, domestically and globally is important for the smooth operation of commerce. Transportation requires the coordination and cooperation of businesses and governments. Moving stuff and people around is so important there is an entire industry devoted to it. It’s called the transportation industry. Students will learn more about industries in a future lesson. 9. Shipping goods around the world requires the cooperation and coordination of governments, government agencies, organizations, and businesses. Trade (import and export) between countries is governed by highly negotiated and complex agreements. Students will learn more about global trade agreements and trade organizations in a later lesson. PRODUCT PREVIEW
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Lesson 1 | Look Out, You’re Surrounded!
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