WorksheetsComparative + Absolute Advantage
Total questions: 20
Worksheet time: 16mins
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
Which country has the absolute advantage in producing airplanes?
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
What should Peru export?
cars
tools
love
rainbows
The U.S. can produce 10 ipads or 20 phones. China can produce 20 ipads or 30 phones. Who should produce what?
U.S.-ipads
China- phones
U.S. phones
China- ipads
both should produce ipads
they should not specialize
Who has an absolute advantage in processed copra?
Linavulu
Bradyburg
Who has the absolute advantage in handicrafts
Bradyburg
Linavulu
Who has a comparative advantage in processed copra?
Bradyburg
Linavulu
Who has a comparative advantage in handicrafts?
Bradyburg
Linavulu
What country has an absolute advantage in the production of steel?
Avagentina
Gianluccistan
Who has a comparative advantage in the production of computers?
Tedville
Racelland
Both
Indeterminate
The basis of trade based from the lowest opportunity cost is considered as ____.
Factor Endowment
Adam Smith Theory
Comparative Advantage
Absolute Advantage
Ecuador can produce 1 ton of sugar using 5 acres of land or 1 ton of avocados using 4 acres.
Which country should produce avocados?
