Comparative Advantage and Trade [AP Macroeconomics Review]
August 20, 2018
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9:11Now PlayingComparative Advantage and Trade [AP Macroeconomics Review]
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as posted by the channelHeimler on Instagram: @heimlers_history
In this video Heimler discusses comparative advantage and trade. Ever since Adam Smith in the Wealth of Nations, economists have been teaching us that two countries trading with each other is a much better situation for BOTH countries even if one country has an absolute advantage over the other.
So we'll get back into the Production Possibilities Curve (or Production Possibilities Frontier) and show how this is possible.
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