'Lower opportunity cost' presentation slideshows

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.

1.53k views • 89 slides

Chapter 2

Chapter 2. Comparative Advantage: The Basis of Exchange. The Basis of Exchange. Why do people exchange goods and services in the first place? Why is YAO Ming a top basketball player and Thomas FRIEDMAN a prominent writer?. Why not do everything on our own?.

913 views • 79 slides

PRINCIPLES OF MICROECONOMICS

PRINCIPLES OF MICROECONOMICS. Professor Karen Leppel Widener University. P. D. S. Q. Resource Utilization. Economics : The study of the allocation of scarce resources. The Economic Problem : How do we use scarce resources to best satisfy unlimited human wants?.

1.04k views • 50 slides

Examples of Fixed-Effect Models

Examples of Fixed-Effect Models. Almond et al. Babies born w/ low birth weight(< 2500 grams) are more prone to Die early in life Have health problems later in life Educational difficulties generated from cross-sectional regressions 6% of babies in US are low weight

594 views • 37 slides

Chapter 3

639 views • 32 slides

Production Possibilities and Opportunity Costs

Production Possibilities and Opportunity Costs. What is a Production Possibilities Frontier (PPF)?. A graph that shows the maximum combinations of goods that can be produced when resources and technology are used efficiently. Scarcity & the PPF.

844 views • 30 slides

P R I N C I P L E S O F

993 views • 30 slides

International Trade 1

International Trade 1. February 27, 2010. Quiz. Take a clean sheet of paper and write your name and id number. Quizzes without both these cannot be graded. Question 1. Indicate the letter of the correct answer:

353 views • 30 slides

The Economic Problem

486 views • 27 slides

ECON 1001

ECON 1001. Tutorial 2. Q.1 Suppose that in one hour Lou and Alex can do the following:. Which of the following is true? A) Lou has both an absolute and comparative advantage over Alex in both tasks. B) Alex has a comparative advantage over Lou in cleaning.

427 views • 27 slides

The Economic Problem

386 views • 27 slides

Comparative Advantage and the Gains from International Trade

Comparative Advantage and the Gains from International Trade. Consumers love bargains Should we let these bargain goods into the country? Do cheap foreign goods threaten the jobs of American workers and the profits of American producers?

915 views • 26 slides

Comparative Advantage and the Gains from International Trade

Comparative Advantage and the Gains from International Trade. Consumers love bargains Should we let these bargain goods into the country? Do cheap foreign goods threaten the jobs of American workers and the profits of American producers?

492 views • 26 slides

Macroeconomics

315 views • 20 slides

Comparative Advantage and International Trade

Comparative Advantage and International Trade. This presentation will take you through description of global trade pattern (with special emphasis on the U.S.) and explain the principle of comparative advantage. This is a simple measure of the relative importance of the foreign sector.

803 views • 15 slides

Welcome to Econ 414 International Economics

Welcome to Econ 414 International Economics Study Guide Week Two Ending Sunday, September 9 (Note: You must go over these slides and complete every task outlined here before the end of the day on September 8)

944 views • 11 slides

Absolute, Comparative and Competitive Advantage

485 views • 10 slides

Absolute Advantage vs. Comparative Advantage

Absolute Advantage vs. Comparative Advantage. A country has absolute advantage if they can produce a good more efficiently. A country has comparative advantage if they can produce a good with a lower opportunity cost. Absolute Advantage.

374 views • 9 slides

319 views • 7 slides

GLOBALIZATION

GLOBALIZATION. Is This A Bad Thing?.

227 views • 0 slides