1.3 - Comparative Advantage
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Comparative advantage made simple...
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@ackilla86 you're a retard .
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This mans videos got me a 5 on the microeconomics AP exam. I love you. marry me?
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extremely helpful
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Very Well Done!
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Still don't get...businesses don't trade anymore, how would that work with currency in these day n age? Businesses don't trade one product for another anymore....how would that work with money? Mula?
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In the production of coconut, Fred's work is ten times as productive as Harry, thus Fred could exchange for 10 hours work of Harry's by selling him coconut. Now what can Harry produce in the 10 hours' service he has offered Fred? its 10 times the 25 units papaya he can produce per hour, 100 units more than what can Fred produce. Yet I think we have to note that the has to be 10 "Fred" in the market place to trade with "Harry" in this way than "Harry" can achieve (1+100/150)*100% efficiency
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So very helpful. Thank you.
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Thank you, you are so helpful!
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thankyou so much
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i love you man i wish my teachers taught like this damnit... im going to youtube all my school problems lol
111whbear 3 years ago 14
Thanks, very helpful for my Economics class.
brittooms 3 years ago 6