Chapter 3 Reflection

What are two weaknesses in the buy local argument?
A weakness in the buy local argument is that not much is 100% made locally in a modern economy and that some parts of production of an item comes from somewhere else. Also, buying locally would raise prices and limit the variety of products.
After watching the video are you still going to make an effort to buy local on occasion? Why or why not?
After watching the video I am still going to make an effort to buy local on occasion for the reasons stated by the Professor; because the product might be better due to taste and uniqueness of the product.
What economic strengths of buy local are not mentioned in the video?
An economic strength of buying local that is not mentioned in the video is that the product travels a fewer distance, which means less environmental impact.
From the perspective of Colorado, is trade with Wyoming different from trade with China? Why or why not? Keep in mind that Colorado doesn’t trade with Wyoming or China. Individuals in Colorado purchase items produced in Wyoming (coal probably :-)) and in China (maybe a t-shirt).
From the perspective of Colorado trade with Wyoming is not necessarily different than trade with China because it creates interdependence and trade because it allows the world as a whole to benefit from a variety of goods and services.