M2, Every country can produce two goods-masks and wheat, using only their citizens' time. Consider the countries of Northumbria and Wessex. ● ● . a) There is no trade. Northumbria produces more masks this year compared to last year because of a plague. Assume that the number of people in Northumbria and the time they spend in production stays the same during the plague. Claim: As Northumbria can increase mask production, it was not producing efficiently pre-plague. Agree, Disagree or It depends? Explain your reasoning. A diagram is not an explanation. Your explanation needs to be sufficient without a diagram. b) The plague is over. Northumbria trades with Wessex. With trade, Northumbria produces only wheat, and Wessex produces both wheat and masks. Claim: Wessex does not benefit from trade with Northumbria as it produces both goods. A country can only benefit from trade if it is fully specialized. Agree, Disagree or It depends? Explain your reasoning. A diagram is not an explanation. Your explanation needs to be sufficient without a. diagram.... c) Northumbria continues to trade with Wessex. A drop in Viking raids increases Wessex's productivity in wheat production. Claim: Wessex will now specialize in wheat production. Agree, Disagree or It depends? Explain your reasoning.
M2, Every country can produce two goods-masks and wheat, using only their citizens' time. Consider the countries of Northumbria and Wessex. ● ● . a) There is no trade. Northumbria produces more masks this year compared to last year because of a plague. Assume that the number of people in Northumbria and the time they spend in production stays the same during the plague. Claim: As Northumbria can increase mask production, it was not producing efficiently pre-plague. Agree, Disagree or It depends? Explain your reasoning. A diagram is not an explanation. Your explanation needs to be sufficient without a diagram. b) The plague is over. Northumbria trades with Wessex. With trade, Northumbria produces only wheat, and Wessex produces both wheat and masks. Claim: Wessex does not benefit from trade with Northumbria as it produces both goods. A country can only benefit from trade if it is fully specialized. Agree, Disagree or It depends? Explain your reasoning. A diagram is not an explanation. Your explanation needs to be sufficient without a. diagram.... c) Northumbria continues to trade with Wessex. A drop in Viking raids increases Wessex's productivity in wheat production. Claim: Wessex will now specialize in wheat production. Agree, Disagree or It depends? Explain your reasoning.
Chapter1: Making Economics Decisions
Section: Chapter Questions
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Transcribed Image Text:M2. Every country can produce two goods-masks and wheat, using only
their citizens' time. Consider the countries of Northumbria and Wessex.
a) There is no trade. Northumbria produces more masks this year
compared to last year because of a plague. Assume that the number
of people in Northumbria and the time they spend in production stays
the same during the plague.
Claim: As Northumbria can increase mask production, it was not
producing efficiently pre-plague.
Agree, Disagree or It depends? Explain your reasoning. A diagram is
not an explanation. Your explanation needs to be sufficient without a
diagram.
b) The plague is over. Northumbria trades with Wessex. With trade,
Northumbria produces only wheat, and Wessex produces both wheat
and masks.
Claim: Wessex does not benefit from trade with Northumbria as it
produces both goods. A country can only benefit from trade if it is
fully specialized.
Agree, Disagree or It depends? Explain your reasoning. A diagram is
not an explanation. Your explanation needs to be sufficient without a
diagram..
c) Northumbria continues to trade with Wessex. A drop in Viking
raids increases Wessex's productivity in wheat production.
Claim: Wessex will now specialize in wheat production. Agree,
Disagree or It depends? Explain your reasoning.
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