Global Markets and International Trade · Global Markets

Absolute and Comparative Advantage

Explaining why nations trade even when one is more efficient at producing everything.

Key Questions

  1. 1What trade-offs does this policy create for domestic industries?
  2. 2Who benefits and who bears the costs of specialization?
  3. 3How does trade change the production possibilities of a nation?

Ontario Curriculum Expectations

ON: Global Economic Interdependence - Grade 11ON: Economic Decision Making - Grade 11
Grade: Grade 11
Subject: Economics
Unit: Global Markets and International Trade
Period: Global Markets

Suggested Methodologies

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