Ch. 2 Outline - b. Comparative advantage 1) 2) 3) 4) 7....

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Chapter 2 Fall, 2009 1. Announcements 2. Specialization and division of labor a. b. 1) 2) 3) c. d. e. http://www.com/food/show_pl 3. Production possibilities frontier a. 1) 20 b. c. 1) 2) 3) 4) 4. Law of increasing costs a. Best first 1) 1
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2) b. Increasing costs 1) 2) c. Final decisions 5. Shifts in PPF a. Capital goods versus consumption goods b. econ growth c. inside the PPF 6. Absolute and comparative advantage a. Absolute advantage 1) Steel in US versus Libya 2) Why a) b) c) d) 3)Gains from trade
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Unformatted text preview: b. Comparative advantage 1) 2) 3) 4) 7. More about costs a. Exchange costs 1) Transaction costs a) b) c) 2) Transportation costs a) b) 3) Trade restrictions 2 8. Barriers to trade a. Tariffs 1) 2) b. Quotas c. Embargoes d. More is better 9. Winners and losers a. Who benefits? b. Classical arguments for restrictions on trade 1) 2) 3) 4) 5) c. Problems 1) 2) 3) d. Scrutiny and special interests 3...
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This note was uploaded on 09/08/2010 for the course ECON 1B at San Jose State.

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Ch. 2 Outline - b. Comparative advantage 1) 2) 3) 4) 7....

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