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The following table describes production possibilities for Slovenia and China. Each number in the table shows the number of workers needed to produce one unit of the product.

Countryshoescars
Slovenia412
China85

Suppose that both countries have 60 workers. What is the opportunity cost of producing shoes in Slovenia?

cars

 

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What is the opportunity cost of producing cars in Slovenia?

shoes

 

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What is the opportunity cost of producing shoes in China?

cars

 

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What is the opportunity cost of producing cars in China?

shoes

 

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Which country has an absolute advantage in producing shoes?

 

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Which country has an absolute advantage in producing cars?

 

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Which country has a comparative advantage in producing cars?

 

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Which country has a comparative advantage in producing shoes?

 

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Which country should be specializing in the production of cars?

 

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Which country should be specializing in the production of shoes?

 

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Which country should be exporting shoes?

 

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Which country should be exporting cars?

 

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Suppose that Slovenia takes all of their workers to produce shoes. How much of the product can they produce?

 

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Suppose that Slovenia takes all of their workers to produce cars. How much of the product can they produce?

 

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Suppose that China takes all of their workers to produce shoes. How much of the product can they produce?

 

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Suppose that China takes all of their workers to produce cars. How much of the product can they produce?

 

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