This lesson will discuss absolute advantage, comparative advantage, specialization and trade with an example using professional basketball player LeBron James.

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Concepts

specialization, comparative advantage, opportunity cost

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Additional Tags

absolute advantage, council for economic education, econedlink, econedlink: should lebron james mow his own lawn?, gains from trade, comparative and absolute advantage

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Classroom Considerations

Knovation Readability Score: 4 (1 low difficulty, 5 high difficulty)
The intended use for this resource is Instructional

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