With reference to the table below, it is correct to state that
| Scenario I — US | Scenario I — Japan | Scenario II — US | Scenario II — Japan | |
|---|---|---|---|---|
| Car ('000/man-day) | 4 | 1 | 4 | 2 |
| Computers ('000/man-day) | 1 | 1 | 2 | 1 |
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2 marks, −1International EconomicsTheories of international tradeAbsolute and comparative advantageHardabout 4 min
JNU SIS 2018 Question 46: Theories of international trade
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Theories of international trade has come up 151 times in 6 exams since 2006.
What this question tests
This question is on Absolute and comparative advantage, part of Theories of international trade in International Economics.
Why countries trade: producing more cheaply in absolute terms, or at lower opportunity cost.
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