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Comparative Advantage Practice Problems KEY.pdf

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1. Do you still remember comparative advantage? : )

2. What is so great about comparative advantage?

3. What is the difference between absolute advantage and comparative advantage?

4. Given a PP Curve or an output table, can you determine which person/firm/state has comparative advantage?

5. Can you determine acceptable terms of trade?

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Episode 34: Comparative Advantage & Trade

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Specialization according to absolute advantage and comparative advantage, and the resulting trade patterns. "Episode 34: Comparative Advantage & Trade" by Dr. Mary J. McGlasson is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported License.

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Episode 35: Why do countries restrict trade?

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If free trade is so great, then why aren't there any countries that practice completely free trade? This video goes through the basic arguments given for restricting trade. "Episode 35: Why Do Countries Restrict Trade?" by Dr. Mary J. McGlasson is licensed under a Creative Commons Attribution-NonCommercial 3.0 Unported License.

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In this video, I go over the types of tools that might be used to restrict trade, and the effects of trade restrictions. "Episode 36: Types of Trade Restrictions" by Dr. Mary J. McGlasson is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported License.

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Honors Unit 4 Lesson 1 - Absolute and Comparative Advantage Flashcards | Quizlet

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Start studying Honors Unit 4 Lesson 1 - Absolute and Comparative Advantage. Learn vocabulary, terms, and more with flashcards, games, and other study tools.