Comparative Advantage Theory | Ricardian Theory of International Trade by Vidhi Kalra

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Hey guys! In this video I've tried my best to put this complicated topic in a simple and clear manner for you. Incase you haven't watched my video on Absolute Advantage, would request you to watch that before for a clearer understanding of this video. I have attached the link below! Good luck!
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Link to the Absolute Advantage Theory-
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#ComparativeAdvantage #RicardianTheory #RicardosTheory #TheoryofInternationalTrade #TradeTheories #DavidRicardo #UPSC #UPSCPrelims #CompetitveExamsPrep #BriefEconomics #Summary #EasyEconomics #SimpleEconomics #Class12thEconomics #GradLevelEconomics #UgcNetPrep #HelpfulEconomics #InterestingEconomicConcepts#GraduationEconomics #PostGraduationEconomics #EasyEconomics #TopicsOfEconomics #ConceptsOfEconomics #NetPrep #VidhiKalra #5MinuteEconomics #5MinEconomics #5MinEco #5MinuteEconomicsByVidhiKalra #FastLearningEconomics #EconomicNews #CurrentNews #IndianNews #CurrentEconomicNews #Class11thEconomics #BALevelEconomics #BoardLevelEconomics #EconomicsShortVideo #NetGuidance #EasyNetPrep #EconomicsTheorem #EconomicsMadeEasier #EconomicsShortVideo #BcomLevelEconomics #BBAEconomics #UPSCPreparation #EconomicsTheorem #EconomicsMadeEasier #EconomicsShortVideo #ImpEcoTopics #SetPrep #SetExamination #SetExaminationGuide #GrowthEconomis #Ecotrics #MacroEconomics #MicroEconomics #EconomicsVideos #UPSC2021 #UPSC2020

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2 июн 2021

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Комментарии : 434

@_noobgamers_7892 3 года назад

i bet ... if we were taught in schools like this , we will never forget any concepts . starting with cakes level and slowly to country level , thats a magnificant method. 🙌🙌🙌

@5MinuteEconomics 3 года назад

That is so sweet of you! Thank you so much 😊

@Deevnesh5191 2 года назад

I cant thank you enough!! You've summarised what my lecturers took 3 hours to explain in a manner of 10 minutes! Thank you!!!

@5MinuteEconomics 2 года назад

So happy to know 😊

@bhoomika6505 2 года назад

Not even lying you explain complicated concepts so well. Came from Absolute advantage theory video to Comparative cost theory. Thankyou so much 💗

@5MinuteEconomics 2 года назад

Glad it was helpful! Keep watching! :D

@rishabhrastogi5225 Год назад

kash ye explanation mujko koi mid term me mil jati .................. wonderfully explained maam ye explanation sun ke toh mereko padhane ka maan kar raha hai i think i willl be an economist in near future thank u maam u earned my respect

@elowkaisiikape6176 2 года назад

Went through many channels yet none beat this!!! Thank you for the valuable input to the viewers

@5MinuteEconomics 2 года назад

So happy to know! Thank you so much 😊

@ezazahmed8118 2 года назад

Your knowledge,elegance and grace while teaching is commendable❤️

@5MinuteEconomics 2 года назад

Thank you so much :)

@RajeevSingh-dw7xj Год назад

You made this topic very easy. Clear and to the point explanation.

@sreesai334 Год назад

have been trying to get hold of this topic from many months!! i just got with ur explaination, Thanks a tonne...!!😇

@5MinuteEconomics Год назад

Happy to help :D

@prathamkumar6632 2 года назад

Can't thank you more, the best ever explanation and I just understood it in one go!! Thanks a lot!!!

@5MinuteEconomics 2 года назад

Glad to know ☺️

@angiemenapa 2 года назад

I am a future business owner and Commerce student who hasn't enrolled in uni yet; but a colleague, friend and business partner asked me to read up on Comparative Advantage for him and get back with my findings. My undergrad background is Nursing, so yes, I did find it initially difficult to switch from medical science to economics. 😁 But your explanations, Ma'am, are helpful. I followed you on Instagram as well. Thank you and regards from Bolivia, central South America.

@5MinuteEconomics 2 года назад

Thank you so much! Glad to know this ❤️

@studywithabdulwaheed3390 2 года назад

I am from Karachi Pakistan. Excellent explanation. I have been teaching for the last 20 years BUT the way you explain Comparative advantage (especially the graph at the end) is remarkable. Keep up your excellent work. Wish you good luck 👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻

@5MinuteEconomics 2 года назад

Thank you so much for your kind words! ☺️

@anusuachowdhury2544 Год назад

Again I'm here before my exams, and again I'm so glad! Thank you so much, your videos always save me in the last moment :P

@vinualex1 3 года назад

Absolutely the last minute tip overturns the complexity of this topic... Good work 👌👌

@5MinuteEconomics 3 года назад

Thank you so much ☺️ Glad to know!

@vrishtigupta5274 3 года назад

i have my international economics exam tomorrow and your videos are a life saver!!!

@5MinuteEconomics 3 года назад

I’m so glad to know that! Thank you so much! ❤️ Good luck for your exam!

@jishnuc9043 3 года назад

The last chart method to find comparitive advantage was brilliant! Thanks for that tip! Since you are good at baking, i have to say the chart method of the video was the Icing on the cake🎂

@5MinuteEconomics 3 года назад

Haha that was bang on! Thank you for the feedback ☺️

@renumalik0002 2 года назад

🤦‍♀️ Its not icing on cake, its Cherry on Cake

@priyodarshini_banerjee Год назад

thanks a lot for making me understand this critical topic so easily i found it very hard until I watched it ❤️🥺

@odiacumeconomics6834 2 года назад

I just say what an explanation, this is called real economics,less time n more study, thanks mam

@5MinuteEconomics 2 года назад

Thank you so much! Keep watching ☺️

@sandhyaaaaaaaaaaa 2 года назад

So so so thankful to you mam for coming up quality content in short duration. The last graph made it even more easier.

@5MinuteEconomics 2 года назад

So happy to know! Keep watching 😊

@HanishFatima 2 месяца назад

Wow amazingly described the complete concept Thank you very much ❤

@its_ishasheth Год назад

The example I had in my textbook was so complicated that I decided to skip it but after watching the video things got cleared thankyou Tomorrow is my economics paper and i am not fully prepared for it. 😢

@riddhitrivedi9626 2 года назад

Economics in 5min quite impressive and your teaching skills are amazing ..❤❤

@5MinuteEconomics 2 года назад

Thank you so much 😊

@raaganshkaushik1347 4 месяца назад

yaar ye kitni awesome hai.....

@RajathHM Год назад

Mam pscy after seeing all RU-vid Vedios for this topic now I got understand, I am fan of u mam ⚡️❤️

@shubhambang3870 Год назад

What a fantastic explanation you are making topics so easy 8:07

@avantikasaklani 2 года назад

Why didn't I found you earlier, my life could have been so easy🥺 watching this a night before my exam. But now i have so much confidence that i will attempt and score full marks in this particular topic✨ ❤❤❤

@5MinuteEconomics 2 года назад

So happy to know that! Keep watching

@Fathimasuzna-dc3nr 7 дней назад

thankyou i was so confused , now i understood it

@ashifdocs17 2 года назад

i m not going to forget this concept whole life.....thank u so much

@5MinuteEconomics 2 года назад

Haha so happy to know! Keep watching 😊

@rathorenisha359 Год назад

Thank you so much mam for wonderful explanation 😊

@himanshusomani8579 3 года назад

Perfect timing was just looking for it ! 😉

@5MinuteEconomics 3 года назад

Glad you found it then! 🥰

@vikrantmassey3745 2 года назад

Can't thank you enough. Absolute genius..💫

@5MinuteEconomics 2 года назад

Happy to know! Keep watching 🥰

@antisocialbarbie1587 Год назад

OMG!! I LOVE YOU SO MUCH THANK YOU!!😍😍😍

@sujatagajmer8815 Год назад

Thank you mam . You've explained so nicely. M never going to forget this concept now.

@5MinuteEconomics Год назад

Thank you so much :D

@kanishkakhunteta Год назад

You explained it so well .tomorrow is my exam and i am going to write whatever you said in this video. And if you add captions it will be more helpful.

@hamzahusain1890 2 года назад

Thank you so much Di..Because of you i covered nearly 12 big topics in one night and topped the exam.. Thank you Di!😊

@5MinuteEconomics 2 года назад

Oh wow! Congratulations to you! :D

@hamzahusain1890 2 года назад

@@5MinuteEconomics One more semester to go...i hope i keep up with you and all the topics🙂

@5MinuteEconomics 2 года назад

@@hamzahusain1890 Good luck :)

@tanvir1638 10 месяцев назад

I just fall in love (with economics)

@adedare9208 3 года назад

This was super simple and useful. Thank you!

@5MinuteEconomics 3 года назад

Glad to know that! You’re welcome 😊

@shruti3227 Год назад

You are awesome mam you made us realise that economics is easier that chit chatting.. and I literally mean it 🤍... You are worth million dollars awards 💜 keep glowing MA'AM ❤️

@5MinuteEconomics Год назад

That is so sweet of you :D

@user-eu9nm2fu8q 3 года назад

very helpful and great examples used thank you

@5MinuteEconomics 3 года назад

Glad I could help you! You’re welcome 😊

@shallu_navneetian Год назад

Thankyou so much tomorrow is my exam nd it will be my life saver😊

@mukeshrai5499 2 года назад

Very effective....very informative..u r like a life saver for students like us. Thank you ma'am.. keep growing ahead..🥰🤗

@5MinuteEconomics 2 года назад

Thank you so much 😀

@jyothisbabugeorge2328 3 года назад

Another wonderful lecture by our rockstar teacher.Maam you're videos deserve more views.Dear Vidhi ma'am can you please do 5 min videos on ugc net economics topics.

@5MinuteEconomics 3 года назад

Thank you so much ☺️ I have done one already. You can have a look at it- ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-2kyI0BziVRk.html

@jyothisbabugeorge2328 3 года назад

@@5MinuteEconomics Ah ok ma'am.I was sad ma'am because I dint get reply.Now I am happy I will see.Thank u dear teacher.

@5MinuteEconomics 3 года назад

@@jyothisbabugeorge2328 Sorry might have missed it 😊

@imsonal Год назад

Thanks a lot ma'am helped me a lot ✨

@renumalik0002 2 года назад

This was the best video lecture till date 💕

@5MinuteEconomics 2 года назад

Thank you so much 😀

@pratimaupadhyay7922 9 месяцев назад

Thanku so much.....❤

@divyagopal7626 3 месяца назад

Thank you so much mam for presenting such a useful video...the way u teach is just mind blowing ...keep continuing your service as long as possible

@5MinuteEconomics 3 месяца назад

It's my pleasure :)

@ECONOMICS265 3 года назад

Well explained ma'am If you look up on the literature of comparative advantage of trade, basically we find two author's work. As you have rightly pointed out, it was initially David Ricardo (1817) who came up with this theory and later by Gottfried Haberler in 1936. Ricardo's theory was based on the LABOUR THEORY OF VALUE. Under the labour theory of value, the price or value of a commodity depends exclusively on the amount of labour going into the production of the commodity. This implies that 1. That either labour is the only factor of production or labour is used in the same fixed proportion in the production of all commodities 2. Labour is homogeneous Since neither of these two assumptions are true, the explanation of Ricardo's comparative advantage faced a huge problem. In order to solve this problem, Haberler in 1936 explained the theory of comparative advantage based on the opportunity cost theory thus giving credence to the applicability of this theory. So what you have explained in this video is Haberler's comparative advantage theory based on opportunity cost and not Ricardo's comparative advantage theory based on labour theory of value. Thank you

@parthkadam516 Год назад

Bhai ye itna bada likhu to aaram se merko 15 marks mil jay 😂😂

@prernasahu1982 2 года назад

Buhht deenno ke bad Apka video dekhe Yai such mei outstanding h

@5MinuteEconomics 2 года назад

Thanks a lot :)

@sapnakanojia5974 7 месяцев назад

Sooo beautifully you explain this concept ...thanks ma'am❤❤❤

@5MinuteEconomics 4 месяца назад

Thank you so much :)

@altafkarim8670 2 года назад

Money is neither a material to work upon nor a tool to work with.thanks 😊

@bijaysahoo7486 2 года назад

I have economics optional in my state psc exam. Your lectures are very helpful. Thank you 🙏🏻

@5MinuteEconomics 2 года назад

Glad to know! Keep watching 😊

@bhargav7476 2 года назад

So happy to see a fellow Indian creator make something actually useful, thankyou

@5MinuteEconomics 2 года назад

Thank you 😊 Glad to know!

@bhargav7476 2 года назад

@@5MinuteEconomics please make a video on Marshall Lerner Condition and J Curve Effect

@5MinuteEconomics 2 года назад

@@bhargav7476 Surely in future!

@divyagopal7626 7 месяцев назад

Wow !....that's so great,,,i'll surely recommend your videos ...Great work!

@5MinuteEconomics 5 месяцев назад

Happy to know!

@pavanading8166 2 года назад

It was very helpful for my Ug exam thank u so much 🤗🤗😊..

@5MinuteEconomics 2 года назад

I’m glad I could help! Good luck ❤️

@saurabhgoyal6801 2 года назад

Great....it will be very useful for international trade fianace exam...thanks a lot vidhi.

@5MinuteEconomics Год назад

Thank you so much :D

@balramyadav5652 2 года назад

Thanks alot ma'am for providing valuable lectures in less time

@5MinuteEconomics 2 года назад

Always happy to help! 😊

@Venky_smart846 Год назад

Fantabulous mam...even I watched many videos and heard many teachers' teaching I got a complete satisfaction with urs only 👍 Please upload videos on all the topics in macro economics.

@5MinuteEconomics Год назад

Thank you so much :D

@atifmurtaza5608 2 года назад

Thank You ma'am. You teach very clearly.

@5MinuteEconomics 2 года назад

Thank you so much :D

@nlvalli1962 2 года назад

Very nice, explained in a clear n simple way

@5MinuteEconomics 2 года назад

Thank you so much 😊

@thatdevika9377 3 года назад

Thankyou for this video..very helpful!

@5MinuteEconomics 3 года назад

So glad to know! Keep watching ❤️

@Qanwaz100 Год назад

Came across to your channel accidentally but it's worth it! Love from Pakistan 🇵🇰

@5MinuteEconomics Год назад

Thank you so much for your appreciation :)

@sahilkhosla3718 3 года назад

By the way this professor is pretty cute 😅

@5MinuteEconomics 3 года назад

Thank you 😊

@mrryu8801 2 года назад

😒 padle bhai 😒😒😒

@SUVLOVER-xy8et 2 года назад

Hmm bhai 😍

@babalsethi2056 2 года назад

@@5MinuteEconomics Welcome

@ianimeshganguly 2 года назад

@@mrryu8801 😅😂😂😂

@taoheedchowdhury5239 3 года назад

Pretty much handy for undergrade students. Just watched your video before studying the Ricardian Model in the eve of final exam!

@5MinuteEconomics 3 года назад

Thank you so much! Glad to know :)

@ajaykalawatikala6118 2 года назад

OMG that's osm. I am ca student and i am afraid of economic... But you change the whole game😊..it May be possible that...David ricardo also enjoyed this vedio😁😁😜

@5MinuteEconomics 2 года назад

Hahaha! Only if he’s watching from the heaven 😛 Thank you for your appreciation 🥰

@teenachhatria4939 21 день назад

Do we always check in y-axis as a shortcut to know which nation has comparative advantage in which product?

@soumalyamallick7438 2 года назад

I understood it nicely. Thank you Mam

@5MinuteEconomics 2 года назад

Thank you so much 😀

@goldenscoop4208 Год назад

East or west u r the best

@jerin4808 2 года назад

I was so confused before watching.. thanks ✨

@5MinuteEconomics 2 года назад

Thank you so much :)

@yashawantakumar5571 3 года назад

It's helpful to me thanks If you been my professor in college, I never miss even each class of yours 🙂😊

@5MinuteEconomics 3 года назад

Haha thank you so much! Keep watching 😊

@yashawantakumar5571 3 года назад

@@5MinuteEconomics Off course I will....

@tharunreddykstharunteddyks1447 Год назад

Once again thank you so much madam ❤, for the explanation.

@5MinuteEconomics Год назад

You're welcome :)

@sarthakbose9669 2 года назад

You explained it really well!

@5MinuteEconomics 2 года назад

Thank you so much :)

@thesrinathkamath 23 дня назад

wow, beautifully explained!

@5MinuteEconomics 17 дней назад

Glad you liked it!

@harismohammed5455 Год назад

thankyou💯💕

@amitbangar6411 2 года назад

Ma'am you are amazing your teaching skills and knowledge both are damn♥️🔥💪

@5MinuteEconomics 2 года назад

I'm so happy to know that! Keep watching :D

@sanketbaheti 2 года назад

Watching this while taking online exams lol, thank you for the easy explanation!

@5MinuteEconomics 2 года назад

Hahah! You're welcome :)

@gagankochar0212 3 года назад

This is my first video on youTube when I watched it on normal speed. You are intelligent You are beautiful✨ You are smart and So On. Please upload videos for english speaking too. 😊

@5MinuteEconomics 3 года назад

Hahaha happy to know! Thank you for your appreciation! :)

@ch.Akhlaqahmed Год назад

One thing I knew about you that you are good baker,,!😊

@5MinuteEconomics Год назад

Hahah thanks!

@boyarvlogs.9367 2 года назад

So sweet ❣️and the explanation is amazing

@5MinuteEconomics 2 года назад

Thank you so much 😀

@EnigMagnum 3 года назад

thanks, your videos are very helpful during these online semesters and exams.

@5MinuteEconomics 3 года назад

I’m so happy to know! Thank you so much 😊

@EnigMagnum 3 года назад

@@5MinuteEconomics i had trade written exam today and have viva tomorrow...keep up the good work.... love from Bangladesh

@5MinuteEconomics 3 года назад

@@EnigMagnum Thank you so much 😊 Good luck for your paper 👍🏻

@JOHNS-ob9ig 10 месяцев назад

Thank you🥰

@princeranawat4633 2 года назад

Very helpful you are best teacher🔥

@5MinuteEconomics 2 года назад

Glad you think so! :D

@abhishekMishra-se5lw Год назад

Thank youuuuuuuuuuuuuuu for saving my 20 markssss😩🙏🙏🙏🙏🙏🙏🙏❣

@piriyadharshineesethuraman3476 2 года назад

So clear,thanks

@5MinuteEconomics 2 года назад

Thank you so much 😀

@musictunes4318 2 года назад

Great ma'am Thank you ☺️

@5MinuteEconomics 2 года назад

Most welcome 😊 Keep watching :)

@bhagwankolase6208 3 года назад

Thanks so much Mam

@5MinuteEconomics 3 года назад

You’re welcome 😊

@Darkang111sam 3 года назад

very helpful video. thanks a lot.

@5MinuteEconomics 3 года назад

Glad to know! ❤️

@HamzaAli-xm5df 2 года назад

Dear iam from pakistan 🇵🇰 belive me apky lectures bohat he achy hoty hen its just wawooooo God bless you

@5MinuteEconomics 2 года назад

Thank you so much 😊

@ishuvlogs03 3 года назад

Di pls explain ppp theory of international trade....... U did amazing di, all u say it will helpful and easy to understand in 5 min.

@5MinuteEconomics 3 года назад

Thank you 😊 Will try doing so.

@fitSarthak 2 года назад

Bohot aache se samjh agaya didi short and simple 🥳🤎

@5MinuteEconomics 2 года назад

Thank you so much 😀

@rithikaajay8340 2 года назад

thank you so much for this!!!!!

@5MinuteEconomics 2 года назад

You’re welcome 😊 Keep watching ❤️

@rohannaik8607 Год назад

Very helpful and very well explained thank you mam😊

@5MinuteEconomics Год назад

Thank you so much :)

@InformationandFunhub 3 года назад

Extremely helpful ❤

@5MinuteEconomics 3 года назад

Thank you 😊

@sarveshjadhav4958 Год назад

The diagram at the end, what if the difference was 10 between the numbers on X - axis? Will it be considered over the Y - axis numbers as it's difference is 8 and X - axis difference is 10?

@BhaviAdhikari 2 года назад

I am sure this will help me with my MPSC mains..!! ✨

@5MinuteEconomics 2 года назад

I hope so! Good luck :)

@ujjwalrana4595 2 года назад

my mind was like , " ree bete mauj krdi" crystal clear explanation Vidhi Di

@5MinuteEconomics 2 года назад

Haha 😂 Glad to know that!

@yuepelshelkardorjitsho3308 Год назад

Big fan from bhutan mam You teach very well. ❤

@5MinuteEconomics Год назад

Thank you for your love 💕

@Abhi-sg2sw Год назад

Thank you

@AbhishekPandey-wv6bc 2 года назад

Thank you so much ma'am...

@5MinuteEconomics 2 года назад

You're welcome :)

@shubhipathak2000 2 года назад

Applies for short run period?

@poovaiahvk3993 Год назад

Thank you Ma'am🙏

@5MinuteEconomics Год назад

You're welcome :)

@niks1363 3 года назад

Ma'am, Can you tell me the difference depends on the countries trade in Ricardian model is of Specialization or Technology? Ma'am, I am waiting for your answer...