International trade: Absolute and comparative advantage
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5:42
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@Webmagery This model assumes COMPLETE specialisation - each country must specialise in one item only. The opportunity cost of producing DVDs (instead of wheat) for South Africa is greater, and so even though it has absolute advantages in the production of both goods, it will concentrate it's production upon Wheat to generate the largest gains and will allow Japan to specialise in the production of DVDs.
doogleisfat 3 months ago
@saradani79 International trade: a European text (Brenton, Scott, Sinclair) is brilliant, whether you are interested in the additional EU analysis or not; the fundamentals are well explained.
doogleisfat 3 months ago
can someone tell me,what is the best book explaining the heckscher ohlin modell description,from the beginning till the results of the modell.Thanks
saradani79 3 months ago
Are there any credits for this?
Webmagery 8 months ago
I liked this, but I'm still slightly unclear on the point of why it's considered less efficient to produce one DVD so that the cost of production drops over the long term... or am I overthinking?
Webmagery 8 months ago
really nice...............cleared my concepts.nice
naina0176 10 months ago