AB 204 Week 2 Discussion 1 | Assignment Help | Kaplan University

AB 204 Week 2 Discussion 1 | Assignment Help | Kaplan University 

Unit 2 Discussion Topic 1

 

 

Previous Next 

Basic Economic Models and Comparative Advantage

The Discussion topics include the difference between microeconomics and macroeconomics, the two basic economic models of the Circular-Flow Diagram and the Production Possibility Frontier, and comparative advantage, which is the main force behind interdependence in the market economy and the gains from trade.

Read Chapters 2 and 3, and remember to include references and links to the websites that are important contributors to your posts.

The theory of comparative advantage states that there are gains from trade if countries specialize and optimize their opportunity costs.

a.    Why is comparative advantage a driving force behind trade behind trade between regions and countries?

b.    Why does specialization lead to welfare improvement? Why engaging in trade is better than trying to be self-sufficient?

 

  1. Question Attachments

    0 attachments —

Answer Detail

Get This Answer

Save Time & improve Grades

  • Questions Asked 685061
  • Experts 5348
  • Total Answered 659177

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Our Amazing Features

  • Plagiarism Free Work

    Our experts provide 100 % original and customized work On time Delivery

  • 24*7 Customer Support

    We provide 24*7 online customer supports via online chat or email

  • Cover All Subject

    JQA is one stop solution for all subject’s Assignment. We can provide assignment help for almost all subjects.

  • Best Industry experts

    We have 1000+ PHD and Post Graduate experts.

Refer Just 5 Friends to Earn More than $1000

  • Your Approx Earning

    USD 2350/year

Your Custom Referral Link:

Hire a tutor

Assignment hero

USA

I am an experienced tutor of 7+ years in all math, physics, and Spanish, SAT, and ACT tutoring. I love working with students and seeing them improve on and grasp concepts!

Guru

USA

Need help in Maths and science ? Look no further . contact me so i can help you . i have been a academic tutor for 10 years . Hire me for help in assignments.

Vikas

USA

After 13 years of working with students across the country, we have the experience and knowledge to provide the best possible academic support for your academics.

Rgaurav

India

I have experience teaching AP Calculus AB and BC, Algebra I, Algebra II, Trigonometry, SAT Math Preparation, and Geometry. I have tutored students ranging from 8th grade to college students.

Invite Tutor