Question

Comparative Advantage

Directions: For each of the following pairs of trading partners, write which good each country would import and export in the space below.

The US sells wheatfor$1 per pound and wool for $2 per pound.
The UK sells wheat for $.50 per pound and wool for $2 per pound.

Germany sells tires for $20 each and glass windows for $5 each.
France sells tires for $15 each and glass windows for $10 each.

Spain sells fish for $3 each and yards of rope for $1 each.
The UK sells fish for $2 each and yards of rope for $2 each.

The US sells corn for $2 per cob and water for $3 per gallon.
Portugal sells corn $3 per cob and water for $4 per gallon.

Vietnam sells shirts for $1 each and oranges for $.50 each.
Australia sells shirts for $3 each and oranges for $1 each.

Answer 1

Answer:

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