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5 Written Questions

5 Multiple Choice Questions


  1. What is the opportunity cost of Good1 for Country2?

  2. What is the opportunity cost of Good1 for Country1?

  3. What is the opportunity cost of Good1 for Country2?

  4. What can Good2 be traded for?

  5. What is the opportunity cost of Good2 for Country2?

5 True/False Questions

  1. x/y
    What is the opportunity cost of Good1 for Country2?

          

  2. w/z
    What is the opportunity cost of Good1 for Country1?

          

  3. absolute advantagethe ability to produce a good using fewer inputs than another producer

          

  4. comparative advantagethe ability to produce a good using fewer inputs than another producer

          

  5. between x/y and z/w
    What can Good1 be traded for?

          

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