Question: 1. Differentiate between Absolute Advantage vs. Comparative Advantage. In the case of the Philippines, what particular industries, goods or services does it have Abosolute Advantage

1. Differentiate between Absolute Advantage vs. Comparative Advantage. In the case of the Philippines, what particular industries, goods or services does it have Abosolute Advantage of vs other countries? And what particular industries does it have Comparative Advantage of vs other countries? Please specify particular industries, goods or services?

2. Explain why in Comparative Advantage, workers have to gain certain skills in order to find employment.

3. Explain the 3 arguments for Protectionism.

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