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Comparative Advantage Explored

Comparative Advantage Explored. Outcomes 4.1.1 - 4.1.7. Today’s outcomes:. 4.1.5 Given a case study or a situation, draw conclusions about which nation has the absolute and/or comparative advantage in producing a product. (a)

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Comparative Advantage Explored

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  1. Comparative Advantage Explored Outcomes 4.1.1 - 4.1.7

  2. Today’s outcomes: 4.1.5 Given a case study or a situation, draw conclusions about which nation has the absolute and/or comparative advantage in producing a product. (a) 4.1.6 Explain, using examples, how most trade occurs because of a comparative advantage in the production of a particular good or service. (a) 4.1.7 Analyze the barriers and restrictions on domestic and international trade. (a)

  3. 4.1.5 Given a case study or a situation, draw conclusions about which nation has the absolute advantage and/or comparative advantage in producing a product. (a) • Perhaps the best examples of this I have found come from the wikipedia page. • Let’s take a look at these right from the website so that you know where to look come assessment time. • http://en.wikipedia.org/wiki/Comparative_advantage

  4. 4.1.6 Explain, using examples, how most trade occurs because of a comparative advantage in the production of a particular good or service. (a) • For example, we import electronics to Canada, but we export wood/lumber. • Another example, China import automobiles, export a lot of clothing. • Japan exports automobiles, but imports oil.

  5. 4.1.7 Analyze the barriers and restrictions on domestic and international trade. (a) • Tarriff: a tax on a good that crosses a baorder. • Trade routes: ships, trucks, trains may have to travel in specific ways, places, routes or methods. • Protectionist laws. • War or conflict. • Trade agreements • Currency trading issues • People may have restrictions on movement.

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