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Part 1: Key Concepts
Part 2: Progress
Part 3: Understanding Trade
Part 4: Trust, Agency, and Bystanders
Part 5: Management of a Commercial Society
Part 6: Personal and Business Finance
Part 7: Innovation and Entrepreneurship
Table of Contents
International Trade: Absolute and Comparative Advantage
A video outlining comparative advantage and how it compares to absolute advantage.
Why Do Countries Trade?
Quick recap on the main economic justifications/reasons for countries to trade with one another for greater economic prosperity.
Sources of Comparative Advantage
What generates comparative advantage? We look briefly at geography, factor proportions, increasing returns to scale and institutions such as labor market flexibility.
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