Comparative Advantage Cartoon

Comparative Advantage Cartoon
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Storyboard Text

  • Hi Martha
  • Hi Carter
  • So I'm able to produce either 5 power tools or 16 air conditioners
  • Wow, I'm only able to produce 4 power tools or 10 air conditioners
  • You have comparative advantage then
  • What's that?
  • The condition that exists whe someone can produce a good or service at a lower opportunity cost than someone else
  • Then what do you have?
  • Absolute advantage, where I can produce a good or service using fewer resources
  • What is the opportunity cost for you then?
  • The opportunity cost for someone who has absolute advantage is higher than comparative advantage
  • Ah ok, thank you very much
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