Interdependence and Gains from Trade Worksheet

Interdependence and Gains from Trade Worksheet

Table of Contents

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Instructions

Interdependence and Gains from Trade Worksheet

Gains from trade please complete the work sheet,

Interdependence and Gains from Trade

Number of Units Produced in One Hour

Food Clothing

England205

Scotland124

1. Each country works 10 hours per day. Create the PPF for each country, showing the table as well as the graph.
2. Who has the Absolute Advantage in Food? _______________ in Clothing?_________________

How did you determine who has the absolute advantage?__________________________________

________________________________________________________________________________

3. What is the Opportunity Cost for England forWhat is the Opportunity Cost for Scotland for

1 unit of Food?________________1 unit of Food?________________

1 unit of Clothing?_________________1 unit of Clothing?_________________

4. Who has the Comparative Advantage in Food? ______________ in Clothing?_______________

How did you determine who has the comparative advantage?_______________________________

________________________________________________________________________________

5. England should specialize in production of __________ and trade Scotland for ____________

Scotland should specialize in production of __________ and trade England for ____________

6. Prior to trade each country spends 5 hours a day producing each good (for a total of a 10 hr work day).Show how specialization and trade can make each country better off.

6a. Prior to trade or specialization:6b. After specialization before trade:

England:Food _____ Clothing _____England:Food_____ Clothing_____

(6hrs)(4hrs)

Scotland:Food _____ Clothing _____Scotland:Food_____ Clothing_____

(5hrs)(5hrs)

6c. After specialization and trade:6d. How much better off are they from part 1 to 3:

England:Food_____ Clothing_____England:Food_____ Clothing_____

Scotland:Food_____ Clothing_____Scotland:Food_____ Clothing_____

7. Illustrate on the graph of your PPF your answers to question 6a and 6c.

RUBRIC
Excellent Quality 95-100%	Introduction 45-41 points The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.		Literature Support 91-84  points The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.			Methodology 58-53 points Content is well-organized with headings for each slide and bulleted lists to group related material as needed. Use of font, color, graphics, effects, etc. to enhance readability and presentation content is excellent. Length requirements of 10 slides/pages or less is met.
Average Score 50-85%	40-38 points More depth/detail for the background and significance is needed, or the research detail is not clear. No search history information is provided.		83-76  points Review of relevant theoretical literature is evident, but there is little integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are included. Summary of information presented is included. Conclusion may not contain a biblical integration.			52-49  points Content is somewhat organized, but no structure is apparent. The use of font, color, graphics, effects, etc. is occasionally detracting to the presentation content. Length requirements may not be met.
Poor Quality 0-45%	37-1 points The background and/or significance are missing. No search history information is provided.		75-1 points Review of relevant theoretical literature is evident, but there is no integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are not included in the summary of information presented. Conclusion does not contain a biblical integration.			48-1 points There is no clear or logical organizational structure. No logical sequence is apparent. The use of font, color, graphics, effects etc. is often detracting to the presentation content. Length requirements may not be met
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