1) Cut and paste the video clip below into your browser and watch it.
2) After watching the video,
a) Explain IN YOUR OWN WORDS absolute advantage.
b) Explain IN YOUR OWN WORDS comparative advantage.
3) Consider the United States.
a) What do we have an absolute advantage in (if anything)?
b) What do we have a comparative advantage in (if anything)?
4) What do YOU personally have a comparative advantage in?
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