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\nUnderstanding Absolute and Comparative Advantage in Trade Theories\n

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\nIn this video, the speaker explains how trade theories such as absolute advantage and comparative advantage can help understand why countries engage in certain trading patterns and specialize in specific goods and services. The speaker...\nIn this video, the speaker explains how trade theories such as absolute advantage and comparative advantage can help understand why countries engage in certain trading patterns and specialize in specific goods and services. The speaker also discusses the outcome of specialization and trade between countries and raises some limitations and potential issues concerning these theories.\n
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Resource Details

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Curator Rating
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Educator Rating
Not yet Rated
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Media Length
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7:24
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Grade
12th - Higher Ed
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Subjects
Social Studies & History
3 more...
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Media Type
Instructional Videos
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Source:
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\nKnowMo Economics\n\n
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Date
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2018
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Language
English
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Audiences
For Teacher Use
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Usage Permissions
Fine Print: Educational Use
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Additional Materials

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\" data-title=\"Get Full Access\" data-container=\"body\" rel=\"popover\" tabindex=\"0\" href=\"/subscription/new\">Video Transcript\n
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Concepts

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economics, opportunity cost, comparative advantage, trade, milk, china, countries
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Additional Tags

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a-level, snapshots, summary, macro, slide, 59, comparative, advantage, iron ore, greatest advantage, absolute advantage, extra unit, trading pattern, completely specialized, countries engage, milk production, wine production, producing cloth, countries specialize, good theory, producing wine, countries producing, production, specialized, theory, producing, wine, means, good, situation, world
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Classroom Considerations

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Best For: Explaining a topic
Video is ad-free
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Educator Ratings

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\n\" data-title=\"Get Full Access\" data-container=\"body\" rel=\"popover\" tabindex=\"0\" aria-label=\"Play video: Understanding Absolute and Comparative Advantage in Trade Theories\" href=\"/subscription/new\">\"Understanding\n\n
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