Infographic-Trade Poster

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What are the 4 factors of production that result in trade?

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The reason that countries trade is because the of trading is less than the cost of producing it yourself. (2 words)

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Sort the following

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Who has absolute advantage in chocolate bars? Why? (Don't forget to mention both inputs, outputs and quantities)

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Who has absolute advantage in cakes? Why? (Don't forget to mention both inputs, outputs and quantities)

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Who has comparitive advantage in chocolate bars? Why? (Don't forget to mention costs and values)

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Who has comparitive advantage in cakes? Why? (Don't forget to mention costs and values)

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Match up the definition for the 4 types of trade barriers

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Free Trade vs. Protectionism

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Check off the impacts of an import quota or tariff on the importing and exporting country.

Infographic-Trade Poster

What are the 4 factors of production that result in trade?

The reason that countries trade is because the ____________ ____________ of trading is less than the cost of producing it yourself. (2 words)

Sort the following

Who has absolute advantage in chocolate bars? Why? (Don't forget to mention both inputs, outputs and quantities)

Who has absolute advantage in cakes? Why? (Don't forget to mention both inputs, outputs and quantities)

Who has comparitive advantage in chocolate bars? Why? (Don't forget to mention costs and values)

Who has comparitive advantage in cakes? Why? (Don't forget to mention costs and values)

Match up the definition for the 4 types of trade barriers

Free Trade vs. Protectionism

Check off the impacts of an import quota or tariff on the importing and exporting country.

What are the 4 factors of production that result in trade?

The reason that countries trade is because the ____________ ____________ of trading is less than the cost of producing it yourself. (2 words)

Sort the following

Who has absolute advantage in chocolate bars? Why? (Don't forget to mention both inputs, outputs and quantities)

Who has absolute advantage in cakes? Why? (Don't forget to mention both inputs, outputs and quantities)

Who has comparitive advantage in chocolate bars? Why? (Don't forget to mention costs and values)

Who has comparitive advantage in cakes? Why? (Don't forget to mention costs and values)

Match up the definition for the 4 types of trade barriers

Free Trade vs. Protectionism

Check off the impacts of an import quota or tariff on the importing and exporting country.

The reason that countries trade is because the of trading is less than the cost of producing it yourself. (2 words)

The reason that countries trade is because the of trading is less than the cost of producing it yourself. (2 words)