Record Sheet One is part of the Stars and Triangles Game.
Round One: No Specialisation or Trade
| Country A _____________ | Country B _____________ | Total | |
|---|---|---|---|
| Stars | |||
| Triangles |
Total World Output = _____________
Opportunity Cost and Comparative Advantage
Country A _____________
Opportunity Cost = Sacrifice/Gain
Opportunity Cost: Stars: Triangles _____________
Opportunity Cost: Triangles: Stars _____________
Country B _____________
Opportunity Cost: Stars: Triangles _____________
Opportunity Cost: Triangles: Stars _____________
Therefore:
Comparative advantage in triangles = _____________
Comparative advantage in stars = _____________
Round Two: Specialisation and Trade
| Country A _____________ | Country B _____________ | Total | |
|---|---|---|---|
| Stars | |||
| Triangles |
Total World Output = _____________
Increase in World Output = _____________
Terms of Trade
_____________ Stars = _____________ Triangles
Country A Gain = _____________
Country B Gain = _____________