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Hi sofia How is new york doing with their eggs and potatoes productions? 

Hi Gaby! We are doing good so far! How is Las vegas doing?

That's wonderful! We are doing good too! We now take 3 worker days per potato and 7 worker days per eggs

Wow! That's really good! We actually take 1 worker day per and 5 per potatos. 

WHAT?! HOW?! It seems like New york has an absolute advantage when producing both! 

Yes! We do! But if we look at our relative prices per eggs or potatoes . I bet you have a comparative advantage!

What does that mean? What is comparative advantage?

Well it's the relative price of goods, not in terms of labor but in terms goods, between two countries.

Hmmmm. Do you think you can give me an example?

Ofcourse! I can actually use our own numbers of the eggs and potatoes productions!

Okay! Sounds perfect! 

Okay! So We need to calculate the relative cost of eggs in terms of potatoes. Which is 3 worker days per eggs / 7 worker days per potato. That equals .43 potatoes per eggs .

Create your own at Storyboard That

Hi sofia How is new york doing with their eggs and potatoes productions? 

Hi Gaby! We are doing good so far! How is Las vegas doing?

That's wonderful! We are doing good too! We now take 3 worker days per potato and 7 worker days per eggs

Wow! That's really good! We actually take 1 worker day per and 5 per potatos. 

WHAT?! HOW?! It seems like New york has an absolute advantage when producing both! 

Yes! We do! But if we look at our relative prices per eggs or potatoes . I bet you have a comparative advantage!

What does that mean? What is comparative advantage?

Well it's the relative price of goods, not in terms of labor but in terms goods, between two countries.

Hmmmm. Do you think you can give me an example?

Ofcourse! I can actually use our own numbers of the eggs and potatoes productions!

Okay! Sounds perfect! 

Okay! So We need to calculate the relative cost of eggs in terms of potatoes. Which is 3 worker days per eggs / 7 worker days per potato. That equals .43 potatoes per eggs .

Create your own at Storyboard That

Hi sofia How is new york doing with their eggs and potatoes productions? 

Hi Gaby! We are doing good so far! How is Las vegas doing?

That's wonderful! We are doing good too! We now take 3 worker days per potato and 7 worker days per eggs

Wow! That's really good! We actually take 1 worker day per and 5 per potatos. 

WHAT?! HOW?! It seems like New york has an absolute advantage when producing both! 

Yes! We do! But if we look at our relative prices per eggs or potatoes . I bet you have a comparative advantage!

What does that mean? What is comparative advantage?

Well it's the relative price of goods, not in terms of labor but in terms goods, between two countries.

Hmmmm. Do you think you can give me an example?

Ofcourse! I can actually use our own numbers of the eggs and potatoes productions!

Okay! Sounds perfect! 

Okay! So We need to calculate the relative cost of eggs in terms of potatoes. Which is 3 worker days per eggs / 7 worker days per potato. That equals .43 potatoes per eggs .

Create your own at Storyboard That

Hi sofia How is new york doing with their eggs and potatoes productions? 

Hi Gaby! We are doing good so far! How is Las vegas doing?

That's wonderful! We are doing good too! We now take 3 worker days per potato and 7 worker days per eggs

Wow! That's really good! We actually take 1 worker day per and 5 per potatos. 

WHAT?! HOW?! It seems like New york has an absolute advantage when producing both! 

Yes! We do! But if we look at our relative prices per eggs or potatoes . I bet you have a comparative advantage!

What does that mean? What is comparative advantage?

Well it's the relative price of goods, not in terms of labor but in terms goods, between two countries.

Hmmmm. Do you think you can give me an example?

Ofcourse! I can actually use our own numbers of the eggs and potatoes productions!

Okay! Sounds perfect! 

Okay! So We need to calculate the relative cost of eggs in terms of potatoes. Which is 3 worker days per eggs / 7 worker days per potato. That equals .43 potatoes per eggs .

Create your own at Storyboard That

Hi sofia How is new york doing with their eggs and potatoes productions? 

Hi Gaby! We are doing good so far! How is Las vegas doing?

That's wonderful! We are doing good too! We now take 3 worker days per potato and 7 worker days per eggs

Wow! That's really good! We actually take 1 worker day per and 5 per potatos. 

WHAT?! HOW?! It seems like New york has an absolute advantage when producing both! 

Yes! We do! But if we look at our relative prices per eggs or potatoes . I bet you have a comparative advantage!

What does that mean? What is comparative advantage?

Well it's the relative price of goods, not in terms of labor but in terms goods, between two countries.

Hmmmm. Do you think you can give me an example?

Ofcourse! I can actually use our own numbers of the eggs and potatoes productions!

Okay! Sounds perfect! 

Okay! So We need to calculate the relative cost of eggs in terms of potatoes. Which is 3 worker days per eggs / 7 worker days per potato. That equals .43 potatoes per eggs .

Create your own at Storyboard That

Hi sofia How is new york doing with their eggs and potatoes productions? 

Hi Gaby! We are doing good so far! How is Las vegas doing?

That's wonderful! We are doing good too! We now take 3 worker days per potato and 7 worker days per eggs

Wow! That's really good! We actually take 1 worker day per and 5 per potatos. 

WHAT?! HOW?! It seems like New york has an absolute advantage when producing both! 

Yes! We do! But if we look at our relative prices per eggs or potatoes . I bet you have a comparative advantage!

What does that mean? What is comparative advantage?

Well it's the relative price of goods, not in terms of labor but in terms goods, between two countries.

Hmmmm. Do you think you can give me an example?

Ofcourse! I can actually use our own numbers of the eggs and potatoes productions!

Okay! Sounds perfect! 

Okay! So We need to calculate the relative cost of eggs in terms of potatoes. Which is 3 worker days per eggs / 7 worker days per potato. That equals .43 potatoes per eggs .

Create your own at Storyboard That

Hi sofia How is new york doing with their eggs and potatoes productions? 

Hi Gaby! We are doing good so far! How is Las vegas doing?

That's wonderful! We are doing good too! We now take 3 worker days per potato and 7 worker days per eggs

Wow! That's really good! We actually take 1 worker day per and 5 per potatos. 

WHAT?! HOW?! It seems like New york has an absolute advantage when producing both! 

Yes! We do! But if we look at our relative prices per eggs or potatoes . I bet you have a comparative advantage!

What does that mean? What is comparative advantage?

Well it's the relative price of goods, not in terms of labor but in terms goods, between two countries.

Hmmmm. Do you think you can give me an example?

Ofcourse! I can actually use our own numbers of the eggs and potatoes productions!

Okay! Sounds perfect! 

Okay! So We need to calculate the relative cost of eggs in terms of potatoes. Which is 3 worker days per eggs / 7 worker days per potato. That equals .43 potatoes per eggs .

Create your own at Storyboard That

Hi sofia How is new york doing with their eggs and potatoes productions? 

Hi Gaby! We are doing good so far! How is Las vegas doing?

That's wonderful! We are doing good too! We now take 3 worker days per potato and 7 worker days per eggs

Wow! That's really good! We actually take 1 worker day per and 5 per potatos. 

WHAT?! HOW?! It seems like New york has an absolute advantage when producing both! 

Yes! We do! But if we look at our relative prices per eggs or potatoes . I bet you have a comparative advantage!

What does that mean? What is comparative advantage?

Well it's the relative price of goods, not in terms of labor but in terms goods, between two countries.

Hmmmm. Do you think you can give me an example?

Ofcourse! I can actually use our own numbers of the eggs and potatoes productions!

Okay! Sounds perfect! 

Okay! So We need to calculate the relative cost of eggs in terms of potatoes. Which is 3 worker days per eggs / 7 worker days per potato. That equals .43 potatoes per eggs .

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Storyboard Text

  • Hi sofia How is new york doing with their eggs and potatoes productions? 
  • Hi Gaby! We are doing good so far! How is Las vegas doing?
  • That's wonderful! We are doing good too! We now take 3 worker days per potato and 7 worker days per eggs
  • Wow! That's really good! We actually take 1 worker day per and 5 per potatos. 
  • WHAT?! HOW?! It seems like New york has an absolute advantage when producing both! 
  • Yes! We do! But if we look at our relative prices per eggs or potatoes . I bet you have a comparative advantage!
  • What does that mean? What is comparative advantage?
  • Well it's the relative price of goods, not in terms of labor but in terms goods, between two countries.
  • Hmmmm. Do you think you can give me an example?
  • Ofcourse! I can actually use our own numbers of the eggs and potatoes productions!
  • Okay! Sounds perfect! 
  • Okay! So We need to calculate the relative cost of eggs in terms of potatoes. Which is 3 worker days per eggs / 7 worker days per potato. That equals .43 potatoes per eggs .
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