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Question: 1. Many people talk about manufacturing jobs leaving the United States and going to other places, like China. Why isn't it possible for all jobs to leave the United States and go overseas (as some people fear)?

2. Go to Ted's website and search for Thomas Thwaites's talk, "How I Built a Toaster-from Scratch." How much money and time do you think Thwaites spent building his toaster? How long do you think it would have taken Thwaites to earn enough money in, say, a minimum wage job to buy a toaster? Comment on the division of labor and the importance of specialization in increasing productivity.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M92651646

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