Facilitator Dede Huang Activity 2 Identify the Points and Opportunity Cost 20

Facilitator dede huang activity 2 identify the points

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Facilitator: Dede Huang Activity 2: Identify the Points and Opportunity Cost (20 mins) Look at the graphs on the screen and identify what points are feasible and efficient vs. the points that are not. We will also be looking at how to calculate the opportunity cost of a good when looking at a Production Possibility Frontier. Take notes here: Activity 3: To Trade or Not to Trade (20 mins) The following table describes the production possibility of Starbucks and Tim Hortons: Sandwich Coffee Starbucks 3 6 Tim Hortons 4 5 b) Which company has an absolute advantage in the production of coffee and sandwiches? Which company has a comparative advantage in the production of coffee and sandwiches? c) If the companies trade with each other, which type of good would each company export? a) Without trade, what is the price of 1 sandwich in terms of coffee for Starbucks? Tim Hortons?
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Course: ECON 1001 B Facilitator: Dede Huang Trade Summary Starbucks Tim Hortons Sandwich Coffee Sandwich Coffee Without Trade: Production and Consumption With Trade: Production Trade Consumption Gains from Trade: Increase in Consumption Use space for notes/calculations: Closer: Academic Resources (5 mins) à à Hope you enjoyed your first PASS workshop! J
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  • Fall '10
  • Economics, 10 mins, 5 mins, 20 mins, Dede Huang

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