1. Economics Sample Unit 5 International Economics
Document set

2. Comparative Advantage
Takes fewer resources to produce than another.
The Best!
Absolute Advantage
Opportunity cost to produce or perform a task is lower than someone else.
Lower Opportunity Cost!
Comparative Advantage

3. Bean Belt

6. Trade Blocs

7. Trade Barriers Quotas Tariffs
Embargoes
Subsidies
Quotas
Standards
Tariffs

8. Embargo- Countries in which there are US. sanctions

9. https://commons. wikimedia. org/wiki/File:Free_Trade_and_Protection

10. Tariffs
Paper clips retail for less than one cent. Tariffs on Chinese paper clips can reach as high a 126%

11. Subsidies

12. Exchange Rates