ECO 201_Module Two Discussion 2-2 Comparative...

This preview shows page 1 - 3 out of 3 pages.

ECO-201: Microeconomics 21EW4 2-2 Discussion: Comparative Advantage YVES M. BOOKER Southern New Hampshire University
2-2 Comparative Advantage I wasn’t unable to do the first simulation (with-out trade) properly, but I was able to get the second one to work for me. I’m not doing too well with the e-text book as it is still a learning process for me; no giving up right? I am slowly learning also trying to retain the concept of trading. Knowing the Opportunity cost for businesses is prime due to the facts that the productivity of goods will require a comparative advantage assessment. I am learning that you have to understand the opportunity cost between two countries for an output to determine the comparative advantage. When comparing cost for both business the lowest will determine the comparative advantage between both businesses. I also think I understand that comparative advantage is based off goods (benefiting one another) from imports between trading partners.

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture