Why Do Countries Trade?

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Rentba000

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I need you to complete the WhyDoCountriesTrade document. Will help to know the meanings of absolute and comparative advantage.

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05.04 Trade Analysis—Template Name _Your Name Here____________________ Instructor________________________________ Use the numbers on the table to complete the charts below. Country United States Country A Developing Country B Developing Country C Developed Country D Developed CORN (Worker hours to produce one unit) 2 6 8 2 4 CITRUS (Worker hours to produce one unit) 4 10 10 6 8 APPAREL (Worker hours to produce one unit) 2 4 6 2 2 COMPUTER SOFTWARE (Worker hours to produce one unit) 4 12 8 8 4 Table 1: Complete a trade analysis for agricultural products. Choose which country from the table above. Corn Citrus Number of additional worker hours to produce one unit of citrus instead of one unit of corn United States Developing Country ___ Developed Country ___ Table 2: Complete a trade analysis for industrial products. Apparel Computer Software Number of additional worker hours to produce one unit of computer software instead of apparel United States Developing Country ___ Developed Country ___ 1. Analysis—Using the data you collected, answer each of the following analysis questions in well-written paragraphs in your own words. A. Identify an example of absolute advantage relative to the United States from your data tables. Be sure to identify which country has absolute advantage (U.S. or other), the product, and data to support your claim. Tip: When considering absolute and comparative advantage, worker hours to produce one unit is a reflection of productivity. Your answer here. B. Identify an example of comparative advantage relative to the United States from your data tables. Be sure to identify which country has comparative advantage (U.S. or other), the product, and data to support your claim. Your answer here. C. Explain why most trade occurs because of comparative advantage. Be sure to provide examples from the data tables or from the lesson to support your answer. Your answer here. Economics with Finan x SCVS Economics with x United States Govern x S Feed Site Studypool x 04.02 Should the Gov x C four_reasons_not_to_r_X $15 Minimum Wages X Nicholas 7 C : © learn.flvs.net/educator/student/frame_toolbar.cgi?mtidd1*nicholas240*mpos=1&spos=0&option=hidemenu&slt=FTEEutHczjnll*4211*http://learn.flvs.net/webdav/educator_econfinlit_v16/inde... ☆ YouTube Quineo Watch anime im Manga Stream Read Manga Watch Series FLVS 123movies AfDah Official ARK DeviantArt K KissCartoon G Google Oasis Timekeeper II Apps >> FLVS myFLVS Economics with Financial Literacy Economics What do you consider your "specialty"? Listen to Marcus below as he speaks about his sport of choice. 1. Collect Data Use the chart below to identify one developing country and one developed country to compare to the United States. Use this template to record data for each country and complete the analysis. The chart contains basic data for the United States, two developing countries, and two developed countries, including top agricultural and industrial goods and the worker hours to produce one unit. Note that worker hours to produce one unit is a measure of productivity. The lower the worker hours to produce one unit, the more productive workers are in that country. This may be considered an advantage. Country A Developing Country B Developing Country C Developed Country D Developed United States 2. 6 8 2. 4 10 10 6 8 Country CORN (Worker hours to produce one unit) CITRUS (Worker hours to produce one unit) APPAREL (Worker hours to produce one unit) COMPUTER SOFTWARE (Worker hours to produce one unit) 2 4 6 2 2 4 12 8 8 4 2. Analysis—Using the data you collected, answer each of the following analysis questions in well-written paragraphs in your own words. A. Identify an example of absolute advantage relative to the United States from your data tables. Be sure to identify which country has absolute advantage (U.S. or other), the product, and data to support your claim. Tip: When considering absolute and comparative advantage, worker hours to produce one unit is a reflection of productivity. B. Identify an example of comparative advantage relative to the United States from your data tables. Be sure to identify which country has comparative advantage (U.S. or other), the product, and data to support your claim. C. Explain why most trade occurs because of comparative advantage. Be sure to provide examples from the data tables or from the lesson to support your answer. Ilvs
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05.04 Trade Analysis—Template
Name _Your Name Here____________________ Instructor________________________________
Use the numbers on the table to complete the charts below.

Country

United States

Country A
Developing

Country B
Developing

Country C
Developed

Country D
Developed

CORN
(Worker hours to produce one unit)

2

6

8

2

4

CITRUS
(Worker hours to produce one unit)

4

10

10

6

8

APPAREL
(Worker hours to produce one unit)

2

4

6

2

2

COMPUTER SOFTWARE
(Worker hours to produce one unit)

4

12

8

8

4

Table 1: Complete a trade analysis for agricultural products. Choose which country from the table above.

Corn

Citrus

Number of additional worker
hours to produce one unit of
citrus instead of one unit of
corn

United Stat...


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