'Lowest opportunity cost' diaporamas de présentation

Comparative Advantage

1.5k views • 103 slides

The Family as an Economic Unit

The Family as an Economic Unit. The Neoclassical Model of Specialization & Exchange. Basic underlying assumption: The family is a unit whose adult members make informed and rational decisions that maximize the well-being of the family.

1.09k views • 89 slides

This is a PowerPoint presentation on the concept of

This is a PowerPoint presentation on the concept of of production possibilities or the transformation function and alternative economic choices. A left mouse click or the enter key will add an element to a slide or move you to the next slide. The

427 views • 35 slides

Economics for Leaders

417 views • 34 slides

Comparative Advantage

382 views • 28 slides

AAEC 2305 Fundamentals of Ag Economics

AAEC 2305 Fundamentals of Ag Economics. Chapter 8 International Trade. Objectives. This chapter will help you learn: How international trade affects the determination of domestic prices, production, and consumption.

387 views • 27 slides

Chapter 2 (Briefly)

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AAEC 2305 Fundamentals of Ag Economics

AAEC 2305 Fundamentals of Ag Economics. Chapter 8 International Trade. Objectives. This chapter will help you learn: How international trade affects the determination of domestic prices, production, and consumption.

388 views • 27 slides

Comparative Advantage and Gains from Specialization and Trade Tale of Two Builders

Comparative Advantage and Gains from Specialization and Trade Tale of Two Builders. Consider two people, Carl and Sam. Both are in the construction business. . Carl can build 2 brick houses in a month. But if he makes frame houses instead, he can build 4 frame houses in that month.

415 views • 18 slides

International Economics

276 views • 18 slides

Comparative Advantage

Comparative Advantage. Quick Introduction. Brief History. David Ricardo introduces the concept of comparative advantage in 1819 ( On the Principles of Political Economy and Taxation . London: John Murray, 1819.) Important because: Shows that it is optimal for countries to specialize and trade

1.24k views • 13 slides

Where does your stuff come from? (Check the tags on your clothes, shoes, watch, calculator, etc.)

Where does your stuff come from? (Check the tags on your clothes, shoes, watch, calculator, etc.). Per Unit Opportunity Cost Review. Per Unit Opportunity Cost. = Opportunity Cost Units Gained. Assume it costs you $50 to produce 5 t-shirts. What is your PER UNIT cost for each shirt?

237 views • 13 slides

Why Nations Trade

367 views • 12 slides

Opportunity Costs

Opportunity Costs. Scarcity & Opportunity Cost. Because of scarcity, we must make choices With any choice, there are costs & benefits. The Big Idea. Opportunity Cost is the value of any alternative that you must give up when you make a choice. It is the value of the opportunity lost.

276 views • 10 slides

AS90795: Describe international trade and its causes and effects using economic models

2.2. AS90795: Describe international trade and its causes and effects using economic models. 2.2. Trade:. Market for an Imported Good. Price ($). S NZ. P NZ. P world. S world. D NZ. Q. Q P. Q NZ. Q C. imports. 2.2. Trade:.

167 views • 6 slides

Comparative Advantage

Comparative Advantage. COMPARATIVE ADVANTAGE. Assumptions: Two Nations Two Different Goods Constant Opportunity Costs Straight Line PPCs Different PPCs Technology Resources Costs. COMPARATIVE ADVANTAGE. Input vs. Output Absolute Advantage Comparative Advantage Specialization

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Warm-Up

89 views • 4 slides