Kayla Marshall Esmeralda Arreola Monica Diaz Priscilla De Los Santos.

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Presentation transcript:

Kayla Marshall Esmeralda Arreola Monica Diaz Priscilla De Los Santos

Good and services that if produces and then sell to other nations.

Goods and services that one country buys from other countries.

Absolute Advantage Country’s ability to produce more of a given product that can another country.

Comparative Advantage The ability to produce a product relatively more efficiently, or at a lower opportunity cost.

Beneficial to both U.S. and other nations: Without trade, many products we have wouldn’t be available. Necessities are imports and trade is needed for them. – Examples: Oil, clothing, and shoes. Raw materials are also needed especially in the U.S. – Examples: minerals & metals. Have to be imported. Also brings in money to help economy go round.