Demonstrating Gains From Specialisation and Trade
Автор: econhelp
Загружено: 2023-02-27
Просмотров: 13104
Hi Everyone in this video I’m going to demonstrate gains from trade when we specialise in the production of goods in which we have a comparative advantage.
Chapters
0:00 Introduction
1:35 Finding Opportunity Cost / Comparative Advantage
3:58 Strategy
5:19 Pattern of Production if no specialisation (equal resources on each good)
6:55 Pattern of Production if Specialisation
7:15 Comparing Total Production
8:23 One Trade that makes both Mary and Simon better off
Other Videos
Drawing Mary's PPF: • Drawing PPF's (from information about prod...
Finding Opportunity Cost: • Calculating Opportunity Cost
Finding Comparative Advantage: • Calculating Comparative Advantage
Drawing Joint PPF's: • Drawing a Joint Production Possibility Fro...
Why some PPF's are curved: • Why some PPF's are Curved
Why the Slope of the PPF is equal to Opportunity Cost • Why the Slope of the PPF is equal to Oppor...
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