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Hi there! Today we will explore how countries trade with each other and how taxes called tariffs change the price of things we buy.
Globalization connects countries around the world through trade. When countries buy and sell goods with each other, it is called international trade. This helps us get products that we cannot easily make at home.
A tariff is a tax that a government puts on goods coming from other countries. Governments use tariffs to make imported goods more expensive, which helps local businesses compete. To understand how trade data grows, we can graph these relationships and find the unit rate, which represents the slope of our line.
When we look at real-world trade data, the points do not always form a perfect straight line. In these cases, we use a trend line to approximate the linear relationship. This trend line helps us make predictions about trade patterns and tariff costs.
A country imports blankets. The total tariff paid is proportional to the number of blankets imported. For 5 blankets, the tariff is $15. For 10 blankets, the tariff is $30. Let's graph this relationship, find the unit rate (slope), and use a trend line to estimate the tariff for 15 blankets.
- Identify the coordinate points: (5 blankets, $15) and (10 blankets, $30).
- Calculate the unit rate by dividing the tariff cost by the number of blankets: $15 / 5 = $3 per blanket.
- Graph the points on a grid with the number of blankets on the horizontal axis and the tariff on the vertical axis.
- Draw a straight line starting at the origin (0,0) through our points. This line has a slope of 3, which is our unit rate.
- Extend the trend line to find the value where the number of blankets is 15. The line shows a tariff of $45.
