Cashews (thousands of pounds)


Table 4: Production and Consumption with no Trade



Download 235.78 Kb.
Page3/4
Date29.06.2021
Size235.78 Kb.
#147505
1   2   3   4
Table 4: Production and Consumption with no Trade




Digital Camera Output

Wheat Output

(bushels)

China







South Korea







Total







  1. If the two countries do not trade and consume whatever they produce, identify the current production and consumption point for each country on their respective production possibilities frontiers. Label China's consumption point "C" and South Korea's consumption point, "K."

  2. Suppose the two countries specialize and trade. Who should produce digital cameras and who should produce wheat? Explain your answer.

  3. Complete Table 5 below to show each country's output with specialization.


Download 235.78 Kb.

Share with your friends:
1   2   3   4




The database is protected by copyright ©essaydocs.org 2022
send message

    Main page