Home > Economics > The global economy > Free trade and protection: Why do nations trade?
Answer Table 1 Opportunity cost of producing cameras and TV sets.
|
Country
|
1 unit of cameras | 1 unit of TV sets |
|---|---|---|
|
Japan
|
0.8 units of TV sets (40/50)
|
1.25 units of cameras (50/40)
|
|
Australia
|
2 units of TV sets (20/10)
|
0.5 units of cameras (10/20)
|
From the above table we can extract the following information:
0.8 units of TV sets (40/50)