Domain 4 International Trade

Absolute Advantage is....

• Who can produce the most

• Who has the lower opportunity cost

• who starts out with the greatest number of resources

• Coach Hayes

Comparative Advantage is....

• Who can produce with the least number of resources

• Who can produce at the lowest opportunity cost

• Who can produce the most

• Coach Hayes

Which type of problem is presented in the chart?

• input

• output

• bad

• coach Hayes

Which country has the Absolute Advantage in Wheat production?

• Philppines

• Indonesia

• Unites States

• China

Which Country has the Absolute Advantage in Rice production?

• Philippines

• Indonesia

• India

• China

What is the opportunity cost for the philippines to produce Rice?

• 12/6

• 6/12

• 12/16

• 16/12

What is the opportunity cost for Indonesia to produce rice?

• 16/4

• 4/16

• 6/4

• 4/6

Who has the comparative advantage in Rice Production?

• Philippines

• Indonesia

• Korea

• India

What type of problem is presented in the chart?

• Input

• Output

• Exchange rate

• Coach Hayes

Who has the absolute advantage in the production of towels?

• Antigua

• Barbuda

• St. Kitts

• Bahamas