Summary of product condition in countries i and ii Amount of labour days, cocoa(tons) Cloth(tons) Country i 200 600 900 country ii 200 300 800 From the abov...

Question 1 Report

Summary of product condition in countries i and ii

Amount of labour days, cocoa(tons) Cloth(tons)
Country i 200 600 900
country ii 200 300 800

From the above table, we can correctly say in respect of international trade that

Country I has absolute disadvantage in the production of both cocoa cloth

Country I has absolute advantage in the production of both cocoa and cloth

Country II has absolute advantage in the production of both cocoa and cloth

Country II has comparative advantage in the production of cocoa

Country II should leave the production of both cocoa and cloth to country I

International Trade

International Economic Organizations

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