Comparative + Absolute Advantage

Who has the ABSOLUTE advantage in making bracelets?

• Marie

• Isabella

Who has the ABSOLUTE advantage in making earrings?

• Marie

• Isabella

The producer that can produce the most output OR requires the least amount of inputs (resources)

• Comparative Advantage

• Trade Offs

• Absolute Advantage

• Opportunity Cost

The producer with the lowest opportunity cost.

• Comparative Advantage

• Trade Off

• Absolute Advantage

• Opportunity Cost

Joy gives 2 haircuts and 1 perm. Susie gives 3 haircuts and 2 perms. Who has the absolute advantage for haircuts?

• Joy

• Susie

Ana takes 30 minutes to wash the dishes and one hour to vacuum the house. Her husband, Joe, takes 15 minutes to wash the dishes and 45 minutes to vacuum. Who has the absolute advantage for vacuuming?

• Ana

• Joe

The US can produce 200 airplanes or 400 trucks. Japan can produce 300 trucks or 100 airplanes. 
Which country has the absolute advantage in producing airplanes? 

• Japan
• US

From the last question, who has the absolute advantage in tools?

• Peru

• U.S.

• neither

• not enough info

Using the same information from the last question, who has the absolute advantage in the production of cars?

• U.S.

• Peru

• neither

• not enough info

Who has the comparative advantage in cars?

• Peru

• neither

• U.S.

• not enough info