I. Bellwork: Q&A –
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Country X
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Country Y
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Grapefruit
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10/tons
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15/tons
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Olives
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40/tons
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30/tons
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Explain your answer and show/compare both mathematical relationships
1. Which country has the absolute advantage in producing grapefruit?
2. Which country has the comparative advantage in producing grapefruit?
3. Which country has the comparative advantage in producing olives?
II. Objective:
- identify trade restrictions and determine the impact of trade policies on domestic economic 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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