What’s comparative benefit? And why is it noteceable to industry? This video guides us thru a selected instance condition Tasmania — an island off the coast of Australia that skilled the surprise of enlargement in opposite. Thru this situation we display what can occur when a civilization is disadvantaged of industry, and display why industry is very important to economic expansion.
In an financial system with a better collection of members buying and selling items and products and services, there are extra tactics to discover a comparative benefit and earn extra by means of growing probably the most price for others. Let’s dive proper in with an instance from our unused pals, Bob and Ann.
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Ann was a catch for bob
Thank you ❤
Very helpful, subscribed
Loved it
thanks
No way Ann catches more fish than Bob. Bob is obviously superior
awesome video
5:15 Those are some really white eyeballs😆
4:22 FEWER than three fish
And I’ve stopped watching.
A big banana of a man can deal with more fish of a woman, make sense 😆
Bobs always thuggin in these vids
Using Don Bodreaux to teach economics? Well, nothing here will be useful in real life.
normans on sabbatical spiderman
Lol orgy of innovation got me😂😂
I love the orgy of inovation.
Anne is scary af
His gaze can melt steel beams
Wow almost everyone here in colllege I’m in 6th grade learning this
Hurr durr I can't trade so i forget how to make tools.
Very helpful and simple way of explaining it. Thanks!
WHY IS HE NOT BLINKING??
brillant video!!! 150%
There's one thing that has been perplexing me about how comparative advantage is used to justify free trade. All of the explanations for why country B that is worse at everything than country A, should still engage in exercising their comparative advantages seems to rest on the notion of cooperation and coordination in production. In other words, country A and country B should consult each other and coordinate production. However, without such deliberation and agreement, what signals help allocate production other than price? I've been looking but as of yet I've not found countries that coordinate, cooperate in their production in order to expand their production possibility frontier. The only example that I've seen are in Latin American countries through associations based on coordination and cooperation such as ALBA ( Alliance for the Peoples of Our America or the Bolivarian Alliance for the Peoples of Our America) that deliberately follow a non-FTA approach.
I'd posit to say that in most developed countries, production is not to maximize the PPF but for production's purpose itself (i.e. to generate profits).
Great video thank you!
Why doesn’t Ann find a more suitable trade partner than Bob since clearly Bob isn’t pulling his weight
Great content 👍
Ann haunts me in my dreams
The 4 thousand hundred lol
Scary eyes
great video
Why is Ann such an out-of-sight fisherwoman?
Awesome 😍
our society is an orgy of innovations
Marginal revolution is my favorite channel,
I like lot and I show every video ..
This was the most intense eye contact I've ever made with a YouTube video
Whenever an economics video compares the productivity of a man and a woman, the woman invariably wins. Feminism has taken over the world.
Its hard to take you seriously when the woman is a better fisherman than the man.