Module 2Thomas Edison State U

Describe goods and/or services in the provision of which you have an absolute advantage. Explain what that advantage is. Describe goods and/or services in the provision of which you have a comparative advantage. (What do you give up less of?) Explain what that advantage is. What is your advantage when you trade for those goods and services you do not have an absolute advantage in? Now select a country and do the same analysis for that country. What differences are there in applying the principles at the national level?