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4. Which country has an absolute advantage? Country A Food : 6 Clothing: 3 Country B Food: 1 Clothing: 2 Country A Country B 5.

4. Which country has an absolute advantage?

Country A

Food : 6

Clothing: 3

Country B

Food: 1

Clothing: 2
  1. Country A
  2. Country B

5. What is opportunity cost of food and clothing in country A?

6. What is opportunity cost of food and clothing in country B?

7. Which country has a comparative advantage in food? In clothing?

8. Define the main factors of production.

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