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China can make 10 computers and 20 cell phones an hour, and Japan can make 8 computers and 15 cell phones an hour.
1 Who has the comparative advantage in making computers? Cell phones?
Answer:
2 If two countries were to trade with each other, who would export computers? Cell phones?
Al can make 10 chocolate and 5 candies a year and Betty can make 30 chocolate and 10 candies a year.
1 Who has the absolute advantage in making chocolate? Candies?
2 Who has the comparative advantage in making chocolate? Candies?
3 If Al and Betty were to trade with each other, which one would Al trade away
This document contains various important questions and their appropriate answers in the subject field of Economics.
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