Assignment task:
Purpose: The purpose of this assignment is to gain a deeper understanding of how countries specialize and trade according to their comparative advantage and why countries benefit from trade.
Skills: This assignment should help you understand how to do online research about comparative advantage and use your analytical skills to compile and explain the data you have collected. This assignment should also help in the development of your written communication skills, including organization, presentation and analysis.
Knowledge: This assignment should help you develop a deeper understanding about what contributes to comparative advantage for countries and why countries specialize in producing certain goods and services for trade.
Task: Please answer the following questions based on the information you find about a country other than the United States on the CIA World Factbook.
This written assignment must be 250+ words long in order to receive full credit. Your answers should be written in complete sentences and you must include detailed explanations for each question (aim for a paragraph minimum for each question). Please run Grammar/SpellCheck before submitting written assignments in this class as grammar counts on all assignments in this course. Please number your answers and include data/information from the website to support your answers. The use of AI is not allowed in this class. You should be able to write this paper without the use of outside resources other than the CIA World Factbook. If you use any outside resources other than the CIA World Factbook, they must be properly cited or you will earn a score of zero on this assignment.
Assignment prompt:
1. Define Comparative Advantage and provide an example of a good/service that the U.S. produces because it has a comparative advantage compared to another country. Explain why the U.S. has a comparative advantage in this good/service. Need Assignment Help?
2. Go to the CIA World Factbook, click on "Countries" and choose a country other than the United States. Do some research and explain what goods and services your country specializes in producing and exporting (the data you need will be in the Economy link).
3. Explain why this country has a comparative advantage in producing these goods and services compared to the United States and why. (You may want to check the other links on the website, like Geography, etc., to determine why they have a comparative advantage in these goods/services. Be sure to provide concrete examples and analysis what exactly gives these countries a comparative advantage in production of these goods?)
4. What kinds of goods and services is this country most likely to import from other countries? Why doesn't this country produce these goods on their own?
5. Lastly, explain how this country benefits from trade.
Criteria for success:
1. Follow all instructions carefully.
2. Number your answers.
3. Include data from the website to support your answers.
4. Include detailed explanations and complete sentences in your answers (about at least a paragraph per question). More is better.
5. Write more than minimum writing requirement of 250+ words.
6. Use correct grammar and run spell check. Proofread your work.
7. Do your own writing here. The use of cheating websites, AI (including Grammarly or other AI grammar checkers) or any plagiarism will result in a score of zero on this assignment. You should not need to use any outside resources other than the CIA World Factbook and your own capable brain. If you use other outside resources, they must be properly cited.