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5.04 Why do Countries Trade?

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Abigail Alequin

on 13 May 2015

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Transcript of 5.04 Why do Countries Trade?

5.04 Why Do Countries Trade?
Abigail Alequin Economics Honors
United States of America
Cambodia
Germany
A. Identify an example of absolute advantage relative to the U.S. from the data tables.
Analysis
A. An absolute advantage relative to the U.S would be that Cambodia produces more corn and citrus than the U.S.
B. Identify an example of comparative advantage relative to the U.S. from the data tables.
B. A compartative advantage relative to the U.S. would be that Germany has a comparative advantage over the U.S. when it comes to producing computer software.
C. Explain why most trade occurs because comparative advantage.
C. Most trade occurs because of comparative advantage because some countried produce other products more quickly than others. This is beneficial for both countries because they get the goods that they need. For example, Cambodia could trade corn and citrus to the U.S. in exchange for computer software.
Corn Citrus # of additional worker hrs to produce 1 unit of citrus instead of 1 unit of corn
2 4

higher
Corn Citrus # of additional worker hrs to produce 1 unit of citrus instead of 1 unit of corn
8 10 lower
Corn Citrus # of additional worker hrs to produce 1 unit of citrus instead of 1 unit of corn
2 6 higher
Apparel Computer Software # of additional worker hrs to produce 1 unit of computer software instead of apparel
2 4 higher
Apparel Computer Software # of additional worker hrs to produce 1 unit of computer software instead of apparel
4 12 higher
Apparel Computer Software # of additional worker hrs to produce 1 unit of computer software instead of apparel

2
8 higher
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