WHY DO COUNTRIES TRADE?

1. In your own words, and in complete sentences - what could explain one country having an advantage in producing wooden chairs?

1. In your own words, and in complete sentences - what could explain one country having an advantage in producing bottled Spring Water?

1. In your own words explain - What is an absolute advantage and provide an example.

1. In your own words explain, what is a comparative advantage and provide an example. (Be sure you address opportunity cost here)