Title |
Comparative Advantage
|
Author |
Ted Black |
|
Categories
|
Production and Firm Behavior
International Economics
|
Type |
Interactive Tutorial |
Description |
The linear production possibilities frontier is shown to be a restraint/constraint and, it explains scarcity and quantitatively defines opportunity cost. The model assumes there are two goods, a fixed resource endowment and a known level of technological expertise in production. |
URL |
http://nova.umuc.edu/~black/compad000.html |
Home URL |
http://nova.umuc.edu/~black/pageg.html |
