Unit 4: Economic Foundationg value 4.5.1 Economic Globalization Assignment 52 ted all the Before you submit the Unit 4 Assignment, be sure you have comple activities, readings, and assignments in Unit 4. . . t Please check one of the following options. I have completed the 4.5.1 Unit 4 Assignmen online in the quiz area in the space provided @ 1. Match the term from the right with the example on the left. Write the number of the correct term in the box on the left. Jerry opened a truck stop on a deserted stretch of highway. He hired five people. A local craftsperson started selling handicrafts at his store. Another person set up an ice cream stall nearby. Then, a mechanic started a small business. 1. Free trade Bananas are the world's most traded fruit. For years, Latin American banana producers paid hundreds of dollars per tonne to the governments of the countries of Europe. European governments wanted to support their own fruit growers by discouraging people from buying bananas by making bananas more expensive than European fruits. 2. Invisible hand Canada produces much softwood lumber. When this lumber is purchased in the United States, the US government charges an additional 11% to the company that is shipping the product into the United States. 3. Division of labour Jerry and Omar started their own business manufacturing garden sheds. Omar builds the sheds and Jerry sells them. 4. Tariff A factory in Mexico produces car parts that are shipped to an assembly plant in Canada. The cars produced in Canada are sold to dealerships in Mexico. No taxes or import duties are charged by either government. 5. Protectionism Social Studies 10-2