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05.04 Why Do Countries Trade

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Amber A.

on 22 April 2015

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Transcript of 05.04 Why Do Countries Trade

05.04 Why Do Countries Trade
PART 1
PART 2
1. Identify an example of absolute advantage relative to the United States from your data tables. Be sure to identify which country has absolute advantage (U.S. or other), the product, and data to support your claim. Tip: When considering absolute and comparative advantage, worker hours to produce one unit is a reflection of productivity.
PART 2
2. Identify an example of comparative advantage relative to the United States from your data tables. Be sure to identify which country has comparative advantage (U.S. or other), the product, and data to support your claim.
PART 2
3. Explain why most trade occurs because of comparative advantage. Be sure to provide examples from the data tables or from the lesson to support your answer.
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It takes a shorter amount of time to produce corn, citrus, apparel and computer software in the United states than in other countries. Also, absolute advantage is when a country requires less physical resources than another country to produce a particular good or service. Knowing that information, The United states has an absolute advantage.
It takes other countries 6 hours or more to produce one unit of citrus, but it It takes the United States workers 4 hours. With that information, the United States has comparative advantage over the others, if we are looking at the hour aspect.
Comparative advantage is when a country has a lower opportunity cost than other countries to produce a certain good or service. Most trade occurs because of comparative advantage due to the fact that every country trading with a country efficient in any specific production of goods will benefit.
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