ECO 201 Week 2 Discussion 1 | Assignment Help | southern-new-hampshire-university(New)
- southern-new-hampshire-university / ECO 201
- 14 Feb 2021
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ECO 201 Week 2 Discussion 1 | Assignment Help | southern-new-hampshire-university(New)
2-2 Simulation Discussion: Comparative Advantage
A
difference in opportunity costs between businesses can lead to a comparative
advantage in the production of a good and the decision to trade.
For
this discussion, first play the simulation games Comparative Advantage (Without
Trade) and Comparative Advantage (With Trade) in the MindTap environment. Then,
you will share your experiences playing the games. Your work in this discussion
will directly support your success on the course project.
In your initial
post, include the image of your simulation report in your response. See
the How to Submit a Simulation Report Image document
for more information. Then, address the following questions:
·
Imagine you own your own business. How would you
evaluate opportunity costs and comparative advantage when
making business decisions?
·
Refer to the Production Decisions graph generated
from the simulations. What role does the production possibility
frontier (PPF) model have in making business decisions regarding
specialization and trade?
In your responses,
comment on the posts of at least two peers whose simulations had different
outcomes than your own. Research and provide examples of companies in the news
that are relevant to your peers’ comments on the value of comparative advantage
for making their business decisions.
To
access your simulations, click the simulation link found in the module.
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