Trade: Comparative Advantage, Absolute Advantage, Production Possibilities
Copper (hours per thousand tonnes) Computer (hours per unit) Republic Of The Congo 5 200 U.S. 8 80 Table 1. Number of Hours to Produce One Unit First, calculate the production possibilities before any trade. Second, calculate the opportunity costs and discuss which country has a comparative advantage in producing copper and computers.
Gross Domestic Product, National Spending Approach, Recession
Copper (hours per thousand tonnes) Computer (hours per unit) Republic Of The Congo 5 200 U.S. 8 80 Table 1. Number of Hours to Produce One Unit First, calculate the production possibilities before any trade. Second, calculate the opportunity costs and discuss which country has a comparative advantage in producing copper and computers.
Foreign Direct Investment, Income Inequality
Copper (hours per thousand tonnes) Computer (hours per unit) Republic Of The Congo 5 200 U.S. 8 80 Table 1. Number of Hours to Produce One Unit First, calculate the production possibilities before any trade. Second, calculate the opportunity costs and discuss which country has a comparative advantage in producing copper and computers.