Discussion Questions What is absolute advantage in trade theory What is the comparative advantage on international trade How does absolute and comparative advantage lead to specialization What are the benefits of comparative advantage Calculations The following represents the production possibilities in the following two countries

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Discussion Questions: What is absolute advantage in trade theory? What is the comparative advantage on international trade? How does absolute and comparative advantage lead to

Discussion Questions:

What is absolute advantage in trade theory?
What is the comparative advantage on international trade?
How does absolute and comparative advantage lead to specialization?
What are the benefits of comparative advantage?

Calculations:

The following represents the production possibilities in the following two countries.

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