In this AP Macroeconomics lesson summary from Khan Academy reviews and reminds about the key terms, graphs, and calculations used in analyzing comparative advantage and the gains from trade. Key concepts include how to determine...

Practice what you have learned about calculating absolute advantage and comparative advantage, and how to use comparative advantage to determine who should specialize in the production of one good or the other.

This site describes how comparative advantage and specialization cause international trade.

This article provides a thorough examination of comparative advantage, absolute advantage, and opportunity cost, and how these three terms are related.

Through illustrated notes and a related video, students will gain an understanding of comparative advantage and why trade is beneficial. [4:10]

Video [2:10] and quiz teaches the concepts of Benefits of Trade and Comparative Advantage.

This article from Hartford Web Publishing applies the concept of Comparative Advantage in today's world. Discussion of import and export explains how obstacles can be overcome.

Basics from key terminology to why we trade are featured alongside introductions to foundational concepts such as production possibilities frontiers, absolute and comparative advantage, trade barriers, and free trade versus protectionism.

This page covers the theory of comparative advantage, biographical details and theories of the 19th century economist David Ricardo, and additional resources.

By the end of this section, you will be able to do the following: Explain the connection between trade balances and flows of financial capital, Calculate comparative advantage, and Explain balanced trade in terms of investment and...

Economists generally agree that free trade helps to improve the overall quality of life in countries that participate. However, disagreements do arise concerning trade agreements. This lesson looks at a disagreement between the US and EU...

This video teaches the concept of Trade, Exchange and Interdependence. People do not make everything that they and their family use: that is, they do not grow all their own food, sew their own clothes, build their own house and provide...

This video teaches the concepts of Balance of Trade and Balance of Payments. The balance of trade is calculated by subtracting imports from exports. The balance of payments includes payments related to exports and imports of goods;...

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

Through a series of videos and notes, lesson gives students a better understanding of the production possibilities curve and how it applies to economics.

This site discusses the two theories that Ricardo created. The Distribution theory and the International Trade theory (Comparative) are explained in detail.

NAFTA, the North American Free Trade Agreement, went into effect on January 1, 1994. The Agreement phases out most tariffs between the United States, Canada, and Mexico. Tariffs, which are taxes on imports, increase the price of foreign...

This self-guided unit addresses the economic interdependence of communities and countries across the globe and the economic development that is taking place. Included are lessons, self-assessments, background information, and learning...

This is an excellent unit concerning globalization. It contains a great deal of background information about globalization, links to other websites, balanced views, questions, and activities. The goals and content are clear and the...

This article discusses how differing prices of various goods in two nations will motivate these nations to trade with each other until the prices of these goods become equal.

This article discusses how differing prices of various goods in two nations will motivate these nations to trade with each other until the prices of these goods become equal.

This article discusses how differing prices of various goods in two nations will motivate these nations to trade with each other until the prices of these goods become equal.

This article discusses how differing prices of various goods in two nations will motivate these nations to trade with each other until the prices of these goods become equal.