AP Economics – 4/22/19
I. Bellwork:
- Summarize: Adam Smith Quote
- Explain how it relates to present day economies and countries
II. Objective:
- Examine how absolute and comparative advantage is determine and how these advantages are applied to create beneficial trade.
- Determine the central ideas or information of a primary or secondary source; provide an accurate summary that makes clear the relationships among the key details and ideas.
- Integrate and evaluate multiple sources of information presented in diverse formats in order to address a question or solve a problem
III. Discussion: Comparative Advantage and Trade pages 24-30
A. Trade & Specialization
B. Why Countries Trade?
C. Absolute and Comparative Advantage
IV. Absolute & Comparative Advantage Exercises
V. Classwork/Homework
- Macro 1.4 WS
- Marco 1.5 WS
- Module 4 Questions
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