Canada
Topic 1: Scarcity, Choice, and International Trade
Canada's Market Economy
Link to the graph ^^
Graph The Data. n.d. The Heritage Foundation. 7 March 2014. http://www.heritage.org/index/visualize?countries=canada|unitedstates&src=country.
Canda's Goods
Canada's top two goods are crude petroleum, totaling 70.1 billion dollars, and cars, totaling 40.4 billion dollars. Comparing to Canada, the United State's goods include cars, totaling 45.9 billion dollars, and crude petroleum, totaling 2.04 billion dollars.
The PPC Graph and the comparative advantage chart have been copied onto a piece of paper which I will turn in Monday due to technology complications.
The U.S. has the absolute advantage for selling cars and Canada has the absolute advantage for selling crude petroleum. The U.S. has the comparative advantage for selling cars due to their opportunity cost for making them is less than that of Canada's and Canada has the comparative advantage for selling crude petroleum due to their opportunity cost being lower than the United State's. Therefore, Canada shall import cars and export crude petroleum and the United States shall import crude petroleum and export cars.
Countries to trade with
Trading
Works Cited
Canada. n.d. The Heritage Foundation. 7 March 2014. <http://www.heritage.org/index/country/canada>.
Graph The Data. n.d. The Heritage Foundation. 7 March 2014. <http://www.heritage.org/index/visualize?countries=canada|unitedstates&src=country>.
North America: Canada. n.d. 7 March 2014. <https://www.cia.gov/library/publications/the-world-factbook/geos/ca.html>.
Simoes, Alexander. Algeria. n.d. Marco Connections. 7 March 2014. <http://atlas.media.mit.edu/explore/tree_map/hs/import/dza/all/show/2010/>.
—. Canada. n.d. Marco Connections. 7 March 2014. <http://atlas.media.mit.edu/profile/country/can/>.
—. China. n.d. Marco Connections. 7 March 2014. <http://atlas.media.mit.edu/profile/country/chn/>.
—. Japan. n.d. Marco Connections. 7 March 2014. <http://atlas.media.mit.edu/profile/country/jpn/>.
—. Mexico. n.d. Marco Connections. 7 March 2014. <http://atlas.media.mit.edu/profile/country/mex/>.
—. United Kingdom. n.d. Marco Connections. 7 March 2014. <http://atlas.media.mit.edu/explore/tree_map/hs/import/gbr/all/show/2010/>.
—. United States. n.d. Marco Connections. 7 March 2014. <http://atlas.media.mit.edu/profile/country/usa/>.