12. What does specialization do? _______________________________________________________________________
13. A _________________ _________________ is when a country has a lower opportunity cost than another country to produce a particular good or service.
14. There are two methods for determining opportunity cost: __________ method and the ____________ method.
a) ____________ method is used to determine the amount of output you get from a fixed set of resources or in a specific amount of time.
b) ____________ method is looking at how many resources (usually focusing on time length) it takes to complete 1 activity.
15. Discuss why the following are arguments to ban trade (give examples if helpful or relevant):