2. Your household chore: Another one of my responsibilities is to make sure that the kitchen stays clean. This includes doing the dishes, cleaning the cabinets, and wiping down the countertops. Explanation: Although my Dad and I both know that he can clean the kitchen far better than I can (he is able to get into the grooves between the tile much better), it is a …show more content…
Therefor, it is more beneficial for the two individuals (or countries) to trade their access goods. An example of a country that has an absolute advantage over the United States is Italy. While the United States produces 700 million gallons of wine each year, Italy produces four billion gallons of wine each year; giving Italy the absolute advantage.
4. Do you have an absolute or comparative advantage in doing something over someone else? Explain. I have a comparative advantage over my Dad when it comes to photography and photo editing/retouching. Although photography is something we both enjoy doing, I am much better at taking the photographs and I am also much faster at editing. Unfortunately, when I have to take a lot of photographs for different people; I will have my Dad edit the photos of family events so that I may continue to work on paying customers. While yes, I am faster at photo retouching; I have a larger comparative advantage if I spend my time taking more photographs for paying customers and editing those.
5. Explain why countries engage in commercial trade. Provide an