Economics – 6/04/13
I. Bellwork: Q&A –
|
Country X |
Country Y |
|||
|
Grapefruit |
10/tons |
15/tons |
||
|
Olives |
40/tons |
30/tons |
Explain your answer and show/compare both mathematical relationships
1. Which country has the comparative advantage in producing grapefruit?
2. Which country has the comparative advantage in producing olives?
II. Objective:
- Assess the impact of trade policies on domestic activity and world trade.
III. Review 16-1
- Page 444 – Gains from Trade- Understand the Graph
IV. Discuss 16-2 Barriers to International Trade: pgs. 447-454
V. Classwork
- Page 447 Content Vocabulary (11)
VI. Absolute & Comparative Advantage Quiz
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