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This page includes:
This page includes:
Videos discussing comparative advantage
Videos discussing comparative advantage
Videos showing how to calculate opportunity cost
Videos showing how to calculate opportunity cost
Videos on favorable terms of trade with practice
Videos on favorable terms of trade with practice
A multiple choice quiz
A multiple choice quiz
Open response questions with answers
Open response questions with answers
Comparative Advantage
Comparative Advantage
The following 3 videos introduce absolute and comparative advantage. They demonstrate how to calculate the opportunity costs for output problems and input problems, and how to determine favorable terms of trade.
The following 3 videos introduce absolute and comparative advantage. They demonstrate how to calculate the opportunity costs for output problems and input problems, and how to determine favorable terms of trade.
Videos Calculating Opportunity Cost
Videos Calculating Opportunity Cost
This video shows a quick overview of how to calculate opportunity cost when given output numbers
This video shows a quick overview of how to calculate opportunity cost when given output numbers
This video shows a quick overview of how to calculate opportunity cost when given input numbers
This video shows a quick overview of how to calculate opportunity cost when given input numbers
Determining Terms of Trade
Determining Terms of Trade
The following 4 videos show how to determine favorable terms of trade and provide some practice examples for you to work out.
The following 4 videos show how to determine favorable terms of trade and provide some practice examples for you to work out.
Here is a multiple choice quiz on comparative advantage
Here is a multiple choice quiz on comparative advantage
Open Response Questions on Comparative Advantage
Open Response Questions on Comparative Advantage
Here are the answers to the open response questions
Here are the answers to the open response questions
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