Please download and use the above linked template/worksheet for this assignment. (Make sure you download and SAVE the template first to change from ‘read only’ into ‘edit’ so that once you type your answers on to it, they will be saved) Also, please first watch this short 4-minute YouTube welcome video – it will help a great deal with this commonly misunderstood assignment.
Leave the template ‘as is’ – you will not change the generic names of countries A and B. Listing specific country names like South Africa or Romania is a clear indication of not reading the instructions or watching the above linked video. Please take the time to use these resources are this ia very commonly misunderstood assignment. If you need any additional help. Please call.
Absolute advantage – deals with who is the most efficient, meaning who is the fastest, who has the lowest number of worker hours. So, you simply look at who has the lowest number in each column. That country would have the absolute advantage for that product.
Comparative advantage – deals with who has the lowest opportunity cost to produce one product instead of another. In order to determine this, you must first do the math to find out the data for the ‘additional worker hours’ column. Once you have those numbers, you simply look at who has the lowest number, and whoever has the lowest number, has the lowest opportunity cost, and thus the comparative advantage.
05.04 Trade Analysis—Template
Name __________________________________________Instructor___________________________________
Table 1: Identify one developing and one developed country along with the United States. Complete a trade analysis for agricultural products.
| Corn | Citrus | Number of additional worker hours to produce one unit of citrus instead of one unit of corn | |
| United States | 2 | 4 | |
| Developing Country A | 6 | 10 | |
| Developed Country C | 2 | 6 |
Table 2: Identify one developing country and one developed country along with the United States. Complete a trade analysis for industrial products.
| Apparel | Computer Software | Number of additional worker hours to produce one unit of computer software instead of apparel | |
| United States | 2 | 4 | |
| Developing Country A | 4 | 12 | |
| Developed Country C | 2 | 8 |
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