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If Producer A trades 5 units of good X for 3 units of good Y, what is the new consumption level of good Y for Producer A if they initially had 2 units?
What is the primary factor that determines comparative advantage?
Producer A can produce either 40 units of good X or 20 units of good Y. Producer B can produce either 30 units of good X or 30 units of good Y. What is the maximum combined output of good X if both producers specialize in good X?
How does comparative advantage benefit countries in international trade?
If the terms of trade are 3 units of good X for 2 units of good Y, how many units of good X does Producer B need to trade to obtain 6 units of good Y?
If Producer A trades 8 units of good X for 4 units of good Y, what is the new consumption level of good X for Producer A if they initially had 20 units?
Given the terms of trade, how can both producers achieve consumption levels outside their individual PPFs?
How does specialization based on comparative advantage affect the production possibilities frontier (PPF) of an economy?
What is the result of specialization based on comparative advantage?
If Country A has a lower opportunity cost in producing cars compared to Country B, what should Country A do to maximize its economic benefit?