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5.04 Why Do Countries Trade?

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by

Alex C

on 8 January 2016

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Transcript of 5.04 Why Do Countries Trade?

GUATEMALA
Guatemala can produce computer software faster and cheaper than the U.S. can. In Guatemala there aren't many places that offer computer software, so people will work to get it. Computer software is very important in this century because a lot of businesses rely on the internet. Computers make things simpler, and a lot more convenient.

Apparel Computer Software
1/7/16
Economics
Alexandra Cabassa
NORWAY
Norway Graph
Norway has a huge advantage with corn and citrus than in the U.S. In Norway, they probably have a lot of fields and workers to collect the products. The more people they, more product can be collected which brings more money. In the United States, we do not have a lot of fields where people will work in every single day. In countries like Norway, these are really the only jobs they have, where in the U.S. we have more options.


Corn Citrus Number of Additional worker hours to produce one unit of citrus rather than one unit of corn.
5.04 Why Do Countries Trade?
United States 2 6 Higher

Norway 8 10 Lower

Guatemala 2 6 Higher

Number of additional worker hours to produce one unit of computer software instead of apparel
United States
2 4 Higher
Guatemala
4 6 Higher


Norway 2 8 Lower
Most trade occurs because of the benefit the countries will get out of it, even if one country has a greater efficiency in producing goods. Trade also happens because other countries need more of a certain supply. Some countries produce more products than needed, so they give them to other countries in exchange for something else.
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