Week 4 remote learning economics due May 1, 2020

I. Watch the video:  Cost of covid 19 to dairy farmers in Alabama  
https://www.washingtonpost.com/video/national/the-cost-of-the-pandemic-for-americas-farmers/2020/04/16/d568edb1-243a-4322-b567-dea1b8d57208_video.html
Answer the following CP1 4 of 5, Honors 5 of 5
1. What percentage has milked dropped in price due to covid 19?
2. Why can't farmers just stop milking their cows if there is a weakened demand for milk?
3. Dairy farmers do not want to dump their milk. Why do they feel they have to dump it?
4.  Is the current crisis a dairy supply or a consumer demand issue?  Explain your answer.
5. Dairy farmers don't want people to die due to Covid, what balance do they seek?  What do we as a nation have to figure out?  Explain your answer


II. Watch the Mr. Clifford AC/DC video on Public Goods and Free Riders 
https://video.search.yahoo.com/search/video;_ylt=AwrE1.D0xqVe2K0ATEJXNyoA;_ylu=X3oDMTEyc2Vwdm8yBGNvbG8DYmYxBHBvcwMxBHZ0aWQDQjk1MzVfMQRzZWMDc2M-?p=mr.+cliffords+acdc+economics&fr=mcafee#id=8&vid=f5be54d91c61a4ca533b53857123ed0a&action=view
CP1 answer 5 of 6,  Honors 6 of 6
1. Who produces public goods?  Why did Republicans have a problem with President Obama's statement about who produces public goods?
2. Do Libertarians want more or fewer public goods?
3. What are the 2 things that make a good a public good?
4. Why doesn't the free market produce public goods?
5. What is a free rider?
6. Should the government step in to solve the dairy farmers problems due to Covid 19? Explain whether your answer would be more Democratic or more Libertarian.

III  Watch the Mr. Clifford AC/DC video on Comparative Advantage Explained
https://video.search.yahoo.com/search/video;_ylt=AwrE1.D0xqVe2K0ATEJXNyoA;_ylu=X3oDMTEyc2Vwdm8yBGNvbG8DYmYxBHBvcwMxBHZ0aWQDQjk1MzVfMQRzZWMDc2M-?p=mr.+cliffords+acdc+economics&fr=mcafee#id=11&vid=9a66391708e97dad49f9a203568c6fee&action=view
CP1 complete 5 of 6 questions , Honors 6 of 6 questions
1. What formally British, but now Chinese city is the center for finance in Asia?
2.  Why would a country with an absolute avantage in producting items want to trade with another nation?
3. Explain the concept of comparative advantage by completing the following:
Do what you do best and ______  for the rest.
4. Mr. Clifford breaks down per unit opportunity cost between US and China in production of planes and toys?  Between which numbers does it benefit both China and the US to trade with each other in terms of toys and planes?
5. Explain how  trade barriers impact per unit opportunity costs?  This is your opinion. 
6. Why do you think Mr. Clifford went to Hong Kong for this explaination of comparative advantage?