Activator Chapter 17 – International Economics
{"Image DocumentName": "Activator Chapter 17 \u2013 International Economics", "Image ImageDescription": "Two men live alone on an isolated island. To survive they must undertake a few basic economic activities like water carrying, fishing, cooking and shelter construction and maintenance. The first man is young, strong, and educated. He is also, faster, better, more productive at everything. The second man is old, weak, and uneducated. He produces less than the younger man. In some activities the difference between the two is great; in others it is small. For instance, the younger man can gather 50 coconuts every hour, or catch 150 fish. While the older man can only gather 5 coconuts or catch 25 fish every hour. Who is better at all activities in the scenario above? What is the opportunity cost for the younger man if he dedicates his hour to gathering coconuts? What is the opportunity cost for the older man if he dedicates his hour gathering coconuts. Should they work separately or together on the island? Explain. Insert a map of your country.", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}