Econ 2100 Trading Agreement – TransPacific Partnership


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Assignment Details:-

  • Course Code: ECON 2100
  • Course Title: Microeconomics
  • Referencing Styles: Open
  • Words: 2250
  • University: British Columbia Institute of Technology
  • Country: CA


Question Task:-


  • What are (factor) endowments?  What are some examples?
  • What is the comparative advantage?  How do we know if it exists?
  •  What are some of the sources of comparative advantage?
  • What is the absolute advantage?  How do we measure it?
  • What is specialization?  Why does it increase productivity?
  • What are the gains from trade? Give an example to show you understand what they are
  • How could comparative advantage be “acquired”?


Answer these problems

  • Do questions 2.3 pages 54 of the text. Note that there is an error in the question as it relates to Figure 2.4 on page 43, not page 37.
  • Do question 2.6, page 56 from the textbook.  Draw the PPF for each country on a graph in answering your question.  Also, draw a combined PPF for the two countries.
  • Why would a trading agreement, such as the TransPacific Partnership (TPP), be of benefit to all the countries, even though they have very different levels of productivity and economic structures?