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Principles of Economics: understanding opportunity cost, comparative advantage, and absolute advantage

Principles of Economics: understanding opportunity cost, comparative advantage, and absolute advantage

In the context of a principles of economics class, students are required to read the international trade chapter before coming to lecture. Students many times have trouble understanding the opportunity cost concept, connecting opportunity cost to comparative advantage, and differentiating between absolute advantage and comparative advantage. In this activity students answer a question that targets the misconception a few hours before class...

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