AB 204 STUDY Education Terms/ab204study.com AB 204 STUDY Education Terms/ab204study.com | Page 2

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This Assignment deals with the Ten Principles of Economics and
their applications to different scenarios. Each scenario below
practices one of the 10 principles of economics. Match the
principles to the appropriate scenario listed and justify your answer.
Each principle will only be used once. Refer to chapter one for the
details on the ten principles of economics.
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AB 204 Unit 2 Assignment Economic Models and
Comarative Advantage

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Explain the difference between absolute advantage and comparative
advantage. Which is more important in determining trade between
individuals or countries? Is it absolute advantage or comparative
advantage? Why?
Let us assume two students must prepare a presentation for their
marketing class. As part of their class presentation, they must do a
series of calculations and prepare 50 PowerPoint slides. It would
take Larry 10 hours to do the required calculation and 10 hours to
prepare the slides. It would take Kate 12 hours to do the series of the
calculations and 20 hours to prepare the PPT slides.
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