Specialization & Trade Worksheet

Specialization & Trade Worksheet
Specialization & Trade Worksheet
Specialization & Trade Worksheet
Specialization & Trade Worksheet
Product Rating
4.0
File Type
Word Document File
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0.08 MB   |   2 pages

PRODUCT DESCRIPTION

A worksheet utilizing the PPF Model to assist student in understanding the difference between specializing according to absolute and comparative advantage, the gains from trade, the difference between exports and imports, and the rationale for desiring to implement protectionist policies.

After completing this worksheet students will be able to:

Calculate maximum output potential from some input data (number of workers required to produce one unit of output)
Identify who has an absolute advantage in producing a good or service
Calculate and graph the gains from trade when countries specialize according to their absolute advantage
Calculate the per unit opportunity cost of producing a single unit of a good or service
Identify a country's comparative advantage
Identify which good a country should export and import
Identify which industries and individuals would stand to gain or lose in the event that free trade was allowed between countries
Total Pages
2
Answer Key
Included
Teaching Duration
30 Minutes

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Specialization & Trade Worksheet
Specialization & Trade Worksheet
Specialization & Trade Worksheet
Specialization & Trade Worksheet
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