Reference no: EM131108960

Comparative and Absolute Advantage Team Assignment

Develop a 1,750-word analysis of the international economy in which you do the following:

• Analyze measures of economic growth, and comparative and absolute advantage in international trade for the following countries:

o USA
o China
o Saudi Arabia
o Democratic Republic of Congo

• Research each country, using such resources as the CIA World Fact Book, World Bank data, and World Trade Organization. Research its economic, political, and cultural development.

• Compare the following using tables or graphs, for most recent year available and for 2009 (the trough of the last economic cycle):

o Country GDP per Capita
o Country GDP as a % of World GDP
o Country exports per capita
o Country exports as a % of GDP
o Country exports as a % of World exports.
o Country imports per capita
o Country imports as a % of GDP
o Country imports as a % of World imports (world imports = world exports)

• Discuss reasons why the economic growth of the four countries varies so markedly. How does trade influence the strength of the economy worldwide?

• Determine the stage in the lifecycle for each country's economy.
• Discuss the following for each country:

o At least two products that have provided the country an absolute advantage in trade (if any)
o At least two products that have provided the country a comparative advantage in trade
o Factors that have prevented a country from achieving either

Cite a minimum of three peer reviewed sources.

Format the assignment consistent with APA guidelines.