The Economic Way of Thinking · Economic Foundations
Comparative Advantage
Analyzing how specialization and trade lead to increased efficiency and wealth.
Key Questions
- 1Why do nations trade even when one can produce everything more efficiently?
- 2How does specialization change the distribution of labor?
- 3What are the hidden costs of total self-sufficiency?
Ontario Curriculum Expectations
ON: International Economic Interdependence - Grade 12ON: The Nature of Economy - Grade 12
Grade: Grade 12
Subject: Economics
Unit: The Economic Way of Thinking
Period: Economic Foundations
Suggested Methodologies
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