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Why Nations Trade
Source: EcEdWeb | Type: Lesson
After discussing the concept of comparative advantage, students in small groups engage in a simulation on the economic costs and benefits of trade.
Grades:
Concepts:
- Barter
- Comparative Advantage
- Opportunity Cost
- Trade
Standards:
- Economics 5: Gain from Trade
- Economics 6: Specialization and Trade
Related Resources:
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