Comparative advantage specialization and gains from trade | Microeconomics | Khan Academy

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How two parties can get better outcomes by specializing in their comparative advantage and trading
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Microeconomics on Khan Academy: Topics covered in a traditional college level introductory microeconomics course
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Опубликовано:

26 авг 2024

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Комментарии : 122

@Cheems_on_Toast 3 года назад

It's quite scary that these free resources are better at teaching than the lecturers that we pay thousands for

@fouadmajidi2568 3 года назад

I totally agree. I get scared when I attend five lectures and I understand nothing then I head to khan academy five videos I understand everything

@kalalukalubasi2737 2 года назад

Same here!

@A21842 2 года назад

My Econ lecturer is the most boring and unprofessional in global education industry

@vlad_shark Год назад

@@A21842 feel you, bro 😁

@user-rx9xg9us9h 7 месяцев назад

Same these concepts are more understandable than the courses I have taken in college.

@yerpyaboy 8 лет назад

how do you know everything ever.

@ThisWorldOfEpicness 8 лет назад

This guy is a God

@mehmetaydin3103 4 года назад

ThisWorldOfEpicness You need to read book more,God is a wrong choice to interpret your idea it could be “Wise of the 21st century “ have a nice day

@TragicHamad 4 года назад

@@mehmetaydin3103 Don't take that comment too seriously. It's the internet, so it must be a joke.

@winnieb3324 4 года назад

Right lmao

@senak9000 3 года назад

@@mehmetaydin3103 as ppl say god knows everything, this person wanted to mean that khan academy's person knows everything and is the god. have a n*ce day.

@WoodT92 4 года назад

I’ve been binge watching your videos during this quarantine and I’ve learned so match. Thank you MR. Khan

@omkarchakraborty1739 4 года назад

same here.......:)

@dereklund6413 Год назад

you should learn how to spell

@ItsMoe202 9 лет назад

Dude youtre amazing at explaining. I'm taking an online Macro course which I have to understand on my own. I found it a bit tricky because the given e-book doesn't really detail their explanations like you. Bravo!

@guitarguy5 5 лет назад

Thanks for putting this up here.... One day when I have some extra cash, I am definitely going send a donation to Khan Academy!

@bershkasen9245 10 лет назад

you are awesome.... so clear and funny as well. It is a pleasure to learn from you. I go to a leading business school (top 3) for MBA. The MBA costs > USD 100,000 But our teachers suck. THE BEST THINGS IN LIFE ARE FREE :)

@Justin-ev8nn 5 лет назад

Don’t you go to business school for the clout and networking? Education is not the priority for a lot of business students.

@jayzee2634 4 года назад

Justin especially for MBA, our profs think they’re a bunch of stuck up snobs for some reason haha

@suprabathreddy980 3 года назад

sal khan went to hbs

@aaronlosing 12 лет назад

Just finished two semester of micro then macro econ. Good stuff, Sal.

@Melissa-oi2if 4 года назад

this was one of those "OHHHH" moments so thank you 🙌🏻

@austinjackson8110 10 лет назад

He needs to do this with not so nice numbers

@fudhujanta 6 лет назад

thas what im sayinnn

@gordonfreeman694 6 лет назад

he uses nice numbers to not brainfuck people with numbers and teach the logic. once you learn the logic you will care about numbers no more

@opencase9903 3 месяца назад

Same idea no matter the numbers. For example, for Patty, the opportunity cost of making 1 cup is 3 plates. In other words, making 1 cup is costing her the opportunity to make 3 plates. Therefore, she should specialize in making plates and be willing to trade any time someone will give her 1 cup for less than 3 plates (i.e. 1 or 2 plates). Because for example, she can either make 1 cup and have 0 plates or she can make 3 plates and give someone 1 plate and get a cup in return for a total of 2 plates and 1 cup:) (this example assumes a market rate of 1 plate for one cup, just like in Sal's video)

@shreenidhi960 Год назад

U tube saves thousands of money😊😊

@doodlebuggyjump15 12 лет назад

Your videos are really much help man especially as an A Level student. There are a few parts that I don't understand and this helped me. =)

@dairycow729 3 года назад

These videos carried and still continue to carry me through my schooling years

@sarahsteinmetz7017 10 лет назад

I get it now. Thank you so much.

@booni5114 3 года назад

The 'market price' is cheaper than the price of making it yourself. That's a comparative advantage in a nutshell.

@thatyoungfan 12 лет назад

maybe its different from school to school. but we learned all of this in Microeconomics

@eldarm1853 3 года назад

I "learned" that globalisation = good. Thank you!

@-ibmshah- Год назад

I hope i can gave you my time for teaching Accounting and Finance for Free one day

@chenliang1112 4 года назад

So what you're saying is that different companies can cooperate to lower their OC and trade at a cheaper rate, which makes it possible for them to exceed their PPF. Nice job.

@giangle5017 4 месяца назад

I love your video, it is shockingly inspirational...I think I will com back when never I struggle with economic theory in this world, meme nothing easy right///

@girumiam 4 года назад

You have saved me Kahn. Bless you!

@Thecraziiii 10 лет назад

Thanks a lot this was really helpful

@wadjeehachady7672 4 года назад

Thanks really well explained. It's really helping me for my exams

@DigitizedSelf 12 лет назад

These videos are great for relaxing and not thinking too much.

@GDPWorking 2 месяца назад

Cups vs plates in comparison makes both richer.

@user-dw8lv6sy2y 3 года назад

우리나라는 원이라는 화폐를 사용하고 미국에서는 달러라는 화폐를 사용합니다. 국제 무역에서 한 나라의 생산의 기회비용을 고려하였을 때 화폐가치가 상대국에 비해 뒤쳐지뎌라도 이익을 가져올 수 있다는 영상의 내용이 인상적이고 기억에남습니다. 앞으로도 좋은 영상 많이 올려주시면 감사하겠습니다.

@MasterRia 8 лет назад

now its clear for me ..thank you

@Mcgurkyyy101 4 года назад

My econ professor is indian and has poor english so this just helped me so much

@aprajitasharma1755 9 лет назад

Hi, A query, is trade between a developed country with and undeveloped country better or with another developed country? (Based on comparative advantage)

@fabemma21 12 лет назад

Thank you and wonderful. explained in very simple terms.

@johnpitt6052 11 лет назад

thanks for your wonderful lecture and i get so many information form your each Economic lecture and appreciate for your great job and hope that you will do more better in the future wish you all the best

@sanajamal8784 9 лет назад

best ever - well explained

@josephwheelerton 7 лет назад

"The Gang Sells Cups"

@frikhatomar6426 11 месяцев назад

Mr Khan, you're the best (y)

@cricclub2958 Год назад

Thanks for saving me..

@12thando34 12 лет назад

these videos are awesome and even more so because they are in a playlist

@tulsipatel646 7 лет назад

This content definitely helped me with my community college course. Feeling scatterbrained but the lighting and somehow the way you were worded this content made sense to me.

@adamweiss8509 4 года назад

with that being said, is every trade scenario going to benefit from a trade of 1 of 1 ?

@minkmandex8115 4 года назад

Highly not

@banjo2861 12 лет назад

Great help and easy example - succinctly and clearly illustrated - Due Econ exam soon and this was a great help - Thank u

@SuupaDupaa 10 лет назад

This is great! Thanks a lot

@BlaZingDux 9 лет назад

Great video, as always!

@federicocammarata7024 11 месяцев назад

Extreamely helpful

@brianyen373 2 года назад

Thanks for everything.

@kasghana2788 3 года назад

You are the best Khan. Thank you

@tushtichakraborty4149 3 года назад

This is amazing! Thank you for saving my life😭

@-ibmshah- Год назад

this is good ahhh thanks

@selinasaidumarova06 6 месяцев назад

Why i didn’t watch these videos earlier. This teacher is absolutely amazing, thank you 🥹

@sabrayahya89 3 года назад

so interesting video sir...........thanks

@levibaptista7900 8 месяцев назад

Great video

@Harmonia96 11 лет назад

Charlie and cups, because they start with "C" and Patty and plates, because they start with "P": brilliant. xD

@virtuousjoffrey8022 8 лет назад

Are we assuming that we are trading all 15 cups with another country?

@bershkasen9245 10 лет назад

Thank you! I would love to know more about you (the man behind the voice). Is there a link to your profile somewhere ?

@Icchejahaj_a624 5 лет назад

Good explanation sir. Thankyou .

@jaybee587 3 года назад

Thank you

@InsightCreationz 9 лет назад

Very good/simple explanation of absolute and comparative advantage :)

@BueTAnderbeest 11 лет назад

Good for you ").

@andreagonzales4141 7 лет назад

So helpful!!!!!!!!!!!! thanks

@theholywand11 12 лет назад

I'm 13 and know more microeconomecics than most people in high school

@chukwumau.5696 11 лет назад

thanks a lot, if only you can do that of hecksher ohlin model

@BijoySalahuddin 10 лет назад

I read this theory in International Business since it is an International Trade theory focused on Free Trade. After watching this video now it seems to me confusing.... :P

@wpxboston 10 лет назад

How did you get 15 plates as the optimal?

@bmac6446 9 лет назад

Because there are two people involved in the exchange. 30÷2=15

@patgrabiec4406 4 года назад

I know this was 6 Years ago, but for anyone still wondering: Both Charlie and Patty can produce 30 units of either cups/plates because that is the most efficient for them. But in order to increase their Production Possibility Frontier they trade with each other, so that both of them have 15 of each, exceeding their independent PPF.

@heylulu351 3 года назад

7:36 is supposed to say "1 cup"

@jakeluk296 7 лет назад

Thank you thank you thank you

@Btothewill 7 лет назад

thanks vlad

@rebekahgill2864 3 года назад

my king

@dhruvpatel8076 8 лет назад

If a country has an absolute advantage, does it - always - have a comparative advantage in at least one of the two goods?

@mehmetaydin3103 4 года назад

👏🏻 I appreciate

@matiassosa7962 2 года назад

I'm just gonna add a data, if the FPP is linear, then the economy only have one factor of production

@charlesprenaveau4969 Год назад

So what I learned from this video is I need to outsource to china?

@SamedHysa 11 лет назад

any1 know how much total output would therefore be?

@thelion2500 9 месяцев назад

My exam starts over 11 minutes and I'm here 😂

@pedrovelazquez6900 3 года назад

I got a little bit confuse!

@IsmailHossain-gv3sl 5 лет назад

I think it is absolute advantage....May be I am wrong .......please correct me

@gdogvibes1 12 лет назад

Its really not to complicated, but being 12 I suppose it is,

@vatovindicator 12 лет назад

im 12 and what is this

@zecorto6380 11 месяцев назад

remember

@12thando34 12 лет назад

maybe u shud just leave this to us old people lol kidding...microecon...nice stuff i promise u

@priyanshigoel711 7 лет назад

who gave this theory by the way?

@bradendredge6809 3 года назад

Notes

@bradendredge6809 3 года назад

I’d rather have someone teach me something that they’re an expert in, while I teach them something I’m an expert in, than leaving both of us learning on our own. Teaching one another is a win-win situation.

@bradendredge6809 3 года назад

And when two people come together to offer a service, said services being much more difficult to attain by other means, they both gain all the more. Through specialization, economic mutual relationships are born.

@bradendredge6809 3 года назад

And, as always, the greatest acquisition in both of two resources is attained through each party’s complete focus on one or the other. So when two parties focus on one of those factors, and both parties attain more of that resource faster than the other, then a mutually beneficial trade can be made.

@bertissimo 10 лет назад

Aaaaaaaaaahhhh!!! Please put real captions on this! Auto-Captions are terrible.

@volfmccarnivor1721 6 лет назад

Nom nom nom on the nom nom scale? Compare to the nom nom scale! I wonder where I was on the nom nom scale? Ethics. Jesus loves you.

@brandonjacobs260 10 лет назад

There are no gains from specialization only weaknesses when exploited you die or lose to someone who never specialized. UK never specialized and easily conquered Gambia whose only product is Peanuts. This is my theory of Comparative Advantage Trap in a peanut shell. By not specializing in only what you are good at, you increase your purchasing power against someone else who specializes. Food is 1/3rd of the US average household budget. If they didnt specialize...and grew their own food they would have that money to out bid others competitively for other goods.

@revathysanthakumar5226 9 лет назад

@Sewblon 9 лет назад

Growing your own food takes time, effort and material resources like land and equipment. The opportunity cost of all of those things usually outweighs the financial benefits of not having to buy food. Have you ever known anyone to get rich by growing crops in their backyard?

@BueTAnderbeest 11 лет назад

How mean! First of they could have dyslexia, or maybe just made a typo. Why 'laugh out loud' at that and then question their intelligence? If they just can't spell, note that it doesn't take an intelligent person to know how to spell, it just requires having a good memory. I believe that you and your 9 amigos ought to be saddened for finding humour in belittling a 13 year old.

@12thando34 12 лет назад

IM SORRY