Episode 34: Comparative Advantage & Trade

Economy | Information | History | Online | Facts | World | Global | Money

1. This is one of the best videos ever I have seen on economics.. woww.. :D
2. Great video. I use this in my interpreting classes. There's a ton of great aspects of language use and the content is useful. Thank you.
3. That was a very good explanation. Thank you very much.
4. You may want to note that ricardos theory builds on the immobility of capital. In the real world the richer part can move his capital to the poorer country and outcompete the indigenous producer. He is not limited as the captain in the example.
5. Why tf does she say fish dinners like that?? LMFAO
6. Much obliged!
7. This is the best so far . really explained a lot. thank you so much.
8. Higher living standards except for the slave working 3600 hours a year in Burma...I mean on the island.
9. Thankyou so much for these videos to make economics so much more easier to understand :)
10. so lets say Germany has comparative advantage in making steel and America has comparative advantage in making movies. We let Germany make all the steel while we make all the movies. Then war happens and Germany refuses to trade their steel for our movies. What to do )-:
11. Thank you for this! It was really helpful 
12. Thank you for making Economics easier to study, your videos are so very helpful making the reading content easier to absorb. Thank you :) 
13. What program(s) you use for making these videos!? =D
14. Hi thanks sooo much for these uploads! Econs is incredibly boring to read and your videos are the only way I understand the subject matter. So yeahhhh. You're awesome, mjmfoodie ;)
15. Hi thanks sooo much for these uploads! Econs is incredibly boring to read and your videos are the only way I understand the subject matter. So yeahhhh. You're awesome, mjmfoodie ;)
16. Hi Mam, How do you solve this problem mathematically? I tried something but ended up with 4 unknown variables. :( 
17. The one downside of this video is it overcomplicates the scenario slightly. It would have been better and clearer to say each of them work the same number of hours. Time is considered a resource, and it would have been easier to see if you made them each work the same number of hours.
18. Nice animation, thank you very much. However, there seems to be a mistake. If I draw the PPC's for the captain (50huts or 100 fish dinners) and Gilligan (40 & 120), the curves intersect. Intersecting lines indicate there in absolute advantage for each country/person in one of the products, hence, we don't have to bother with comparative advantage. Your example is correct when both persons work for the same amount of hours. In that case, we have camparative adv., as the curves don't intersect.
19. OMG, this explains better than my lecturer... = =! it took me 6 mins to watch this clip and i understand more than a 2 hours lecture .... Thank you uploader 
20. Thank you very much! Wherever I was unsure about Specialisation and Comparative Advantage, I went back and watch your video and it all made so much sense! xxx