absolute and comparative advantage

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absolute and comparative advantage

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pajholden

Күн бұрын

absolute and comparative advantage defined and explained with the use of examples

Пікірлер: 526

@wanziganga 10 жыл бұрын

You spent less time explaining this and i understood it more than when I spent 3 hours in class trying to understand.

@nadinefaithjosue6737 10 жыл бұрын

I agree.

@hewf3zleepy 9 жыл бұрын

I agree, as well! Paj is a natural

@redshirtspeaker 9 жыл бұрын

Over 250,000 students have the same example of UK, China, cars and cheese in their exam.

@mrroo9658 8 жыл бұрын

8 years after this video was made, I am going to use it as well.

@anwayapimpale2644 8 жыл бұрын

Omg me too xD

@ML-ek5ur 5 жыл бұрын

Hahaha

@user-ex1wv7jv8l 4 жыл бұрын

Hahahaha (now 450,000)

@santoshacharya1563 3 жыл бұрын

12 years after...... I will use the same 😆. I couldn't find any helpful video relevant to calculations. Hope he is good at it. Started listening

@AlistairBullen 10 жыл бұрын

Anyone concerned with the comments saying this is wrong shouldn't worry, it's not. However it should be noted that the model he uses works with hours needed to make x good. On the other hand the model I was taught, and the model in my textbook, works with the maximum potential output of each good if all resources are fully employed. If you used the numbers in the video with that model, then yes, the UK would have absolute advantage on both goods and the comparative advantage on cars.

@evagreta7832 9 жыл бұрын

Well explained, much better than my economics teacher :)

@WSC9293 8 жыл бұрын

+Eva Greta Much better explanation than my useless tit of a professor, too.

@parteibonza 8 жыл бұрын

+WSC9293 why do you need someone to hold your hand? Read your text. Use your own brain. quit blaming others for your poor reading comprehension skills.

@WSC9293 8 жыл бұрын

parteibonza Did I say I needed someone "to hold my hand", you stupid fuck? When my textbook (which you've never seen) doesn't explain this at all, what shall I do then? Go fuck yourself, loser.

@WSC9293 8 жыл бұрын

parteibonza Well since I already passed the course with a grade of 100% back when it ended in April, I'd say you can choke on your words, fuckwad. Oh, and my overall college average is in the high 90s. I do quite well in my studies and professors appreciate my questions. Insecure, whiny bitches like you, on the other hand...

@kaziahammed123 10 жыл бұрын

5 years ago I came to watch this video to learn about this concept for my IB exams.. 5 years later back again to learn the same... Hats off to you!

@user-ex1wv7jv8l 4 жыл бұрын

Kazi Ahmed Wow refreshing to see another IB students! I am sitting for them on November, 15 years later.

@element3663 7 жыл бұрын

To everyone complaining: It's just with hours needed instead of amount of output, so larger numbers means less effectiveness. People in the comment really scare me, how can they not grasp the idea. Video is really useful and simple to understand.

@omarelnakkadi5718 8 жыл бұрын

thank you so much, its almost 2016, and this video is still benefiting people! Good job!

@ibtihelourimi372 8 жыл бұрын

+Omar El Nakkadi it is 2016 now , and i am benefiting from it :p it is really helpful !

@NewsFusion24 8 жыл бұрын

+Omar El Nakkadi four months though 2016 and verrryyyyy useful

@eh6491 8 жыл бұрын

+Ahmed jama A day before the exam and it's still very useful... Last minute revision again...

@ivyy11 7 жыл бұрын

2017, still useful :)

@sabbeeemc5590 6 жыл бұрын

Omar El Nakkadi 2018 still going

@aaathifa6228 6 жыл бұрын

10 years later and still helpful in simple terms. Thank You!

@anwayapimpale2644 8 жыл бұрын

Thank you so very much!! You taught me this theory better than the teacher in my college did. This helped me alot. youtube will probably save me from flunking economics this semester, thanks to people like you

@gabby7754 8 жыл бұрын

girl me too, i have a quiz tomorrow and didn't know shit until i started doing research on my own.

@MissWooHoo11 7 жыл бұрын

i got an exam 8:30am tommorrow so in the same position. only started learning shit after watching youtube videos today.

@Fahrenheit4051 7 жыл бұрын

Those of you saying this video is wrong: UK: Make 1 car = give up 3 cheese. To make 1 cheese, you give up 1/3 of a car. China: Make 1 car = give up 2 cheese. To make 1 cheese, you give up 1/2 a car. The UK has to give up a whole three cheeses to make 1 car, whereas China only gives up two. That means that it makes sense for Britain to get its cars from China, because China doesn't have to give up as much cheese to produce a car. Conversely, it makes more sense for China to get its cheese from the UK, since they only give up 1/3 of a car, whereas China has to give up 1/2 a car to get 1 cheese.

@AbirSpeaking 6 жыл бұрын

absolutely right :)

@Upgraded4552 6 жыл бұрын

I absolutely concur with your argument. If making a car takes three times longer than a tonne of cheese, then the opportunity cost of every car should be three times a tonne of cheese, i.e, O.C of 1 car = 3 tonnes of cheese-the case for America. The same logic can be applied for China. Thus, the following deductions can be made 1. America (O.C 1 car= 3 tonnes of cheese) vs. China (O.C 1 car=2 tonnes of cheese). Therefore, China has a comparative advantage in the production of cars since it forgoes less in terms of cheese relative to America. 2.America (O.C 1 tonne of cheese = 0.33 of a car) vs. China (O.C 1 tonne of = 0.5 of a car). Therefore, America has a comparative advantage in the production of cheese since it forgoes less in terms of cars relative to China.

@Upgraded4552 6 жыл бұрын

Sorry its UK not America.

@tlacatl 14 жыл бұрын

Thank you Mr. Holden for the clear and easy to follow explanation. Seven minutes well spent.

@lbororamosxiang8361 6 жыл бұрын

June 2018, glad i found this. Much better than the lecturer i met in class. Thanks!

@richardgordon 3 жыл бұрын

Some people are gifted communicators. This guy is one of them.

@MasonKing 11 жыл бұрын

Taught much better than teacher at college. It's funny how we often have your videos played during our lessons since you seem to teach all this better than anyone else :-)

@tashi335 11 жыл бұрын

I don't know if you understand how much this has helped! What you taught in 7 mins. Was way better than my teacher for 2 weeks! Thanks!

@shenwzw 8 жыл бұрын

best and simple lecture........for the absolute and comparative advantage

@jessvicuna 12 жыл бұрын

Thank u awesome British man! I am going to take my midterm with some level of dignity! You are the patrick JMT of Economics!

@rej5231 9 жыл бұрын

£9000 a year for university when all we need is this g. Man like paj holden soon touch road

@eh6491 8 жыл бұрын

What uni do you go?

@cafritz 14 жыл бұрын

Mr. Holden, I greatly thank you for explaining this with such simplicity! I understand the true benefit is OC.

@oliversapier6173 9 жыл бұрын

So, so useful! Whenever I miss/don't understand something I check if you've done it! It's very rare that I'll watch one of these videos and still not understand a concept! Thank you!

@joecao6525 7 жыл бұрын

Of course this video is still benefiting people! It's already 2017.Thank you for uploading this video to illuminate me and get the key point in my Economics class!

@realda4k 15 жыл бұрын

Your lectures and your methodology is highly respected.

@SgtPepper10100 12 жыл бұрын

Someone give this man a award!

@Beautifulbrownhoney 11 жыл бұрын

Thanks for this video!! So relieved to know how to calculate the opportunity cost efficiently and with success every time!!

@ArielMelton 10 жыл бұрын

Brilliant! I struggled with both my textbook and professor's notes, but after watching this I get the idea, and could make up my own examples. THANK YOU!

@irinaepshteyn8420 11 жыл бұрын

Excellent, quick and easy! Visual help always helps rather than reading a page full of numbers in the the text book.

@TruthLikeVenom 12 жыл бұрын

Thank you so much! I'm taking Intro to Macroeconomics online and this example was so helpful to actually SEE in progress.

@holbiferus 14 жыл бұрын

I am doing a unit on global political economy. This is fantastic, simple examples that can be applied to complex real world trade. Thanks soo much.

@camerondavidson9248 4 жыл бұрын

Well done pahj outstanding vid

@callumelliott4110 4 жыл бұрын

Cameron Davidson couldn’t agree more

@callumelliott4110 4 жыл бұрын

Cameron Davidson pleZe subscribe to me

@rebeccafinan4484 8 жыл бұрын

Brilliant, explained simply for non-experts. THANK YOU, this has really helped me understand these two terms

@FightingMango 15 жыл бұрын

Excellent.... comparative advantage was melting my brain a little.... my text book didnt mention opportunity cost at alll... but mentioning it makes so much sense.

@YeahNahGood 11 жыл бұрын

You are one of the only people on youtube I have found that actually teaches this right. Many thanks, continue teaching O wise one :)

@rosehathaway8201 6 жыл бұрын

Please please never stop making you tube videos. They help me SO much you have no idea

@Minnnt 16 жыл бұрын

My economic teacher is using your videos as teaching materials. And thanks for the lessons.

@tiana93bih 13 жыл бұрын

YOU ARE AMAZZINGG!! IM IN MACROECONOMICS NOW AND I WAS STRUGGLING REALLY BAD AND U REALLY HELPED ME!!!

@Marco0618 14 жыл бұрын

Makes ALOT more sense than it did at school last week.... THANK YOU!!!!

@OBHejv 14 жыл бұрын

I've consulted my teacher, wikipedia and the fancy school book and did not comprende...2 min with this guy made my night (not sexually) =) cheers

@vastamil 12 жыл бұрын

Exams tomorrow and you just cleared my doubts on absolute and comparative advantage. Thank you very much.

@Mairoce20 7 жыл бұрын

This is great. Very clear and straight to point.

@sarah103080 12 жыл бұрын

thank you so much, this short lecture gave me a better understanding than all the text I can read or questions I can ask my professor!

@howardgardner5474 12 жыл бұрын

Thank you. You explained this very well and it was easy to understand. Much easier than my book.

@sangesherpa4832 7 жыл бұрын

beautiful and clear explanation with an example... thank you

@TheSunnygirl499 10 жыл бұрын

Thank you very, very much! Every time I watch your videos, i seem to understand better! Thank you, and keep doing that and helping people out!

@cemalyildirim4529 11 жыл бұрын

i just did my IB economic exam thank u for ur videos they were a great help

@GirlinGirlin8 14 жыл бұрын

Great lecture !! Totally makes sense. I had a hard time to understand comparative advantage, but this guy make it clear. Thanx alot.

@jessiebelanger1165 10 жыл бұрын

videos like these really make a difference. Great lesson. teaching takes talent.

@Makeupgirl1978 11 жыл бұрын

Thank you for that!! My International Business class explanation left something to be desired. I understand it now!!!

@ogulozel06 10 жыл бұрын

Sir you have just saved my academic life!

@elizabethpoverello2141 6 жыл бұрын

thank you so much..... it takes one lesson video on YOU TUBE for me to understand this. Much appreciated.

@aswathica508 4 жыл бұрын

Thankyou sir for the amazing explanation of the topic in just 7mins. I have been spending hours finding the right explanation of the same. This vedio solved my problem!

@Haribosam 12 жыл бұрын

good refresher before exam, clear and concise, thank you.

@lindsaymorley9290 7 жыл бұрын

Absolutely love this. So well explained, yet simplified so we can understand. Thank you.

@markkickmark 13 жыл бұрын

Very helpful presentation for a topic that does confuse people.

@SPECIAL_EDUCATOR1311 9 жыл бұрын

fantastic .... thankzz for ur efforts

@chinzie275 14 жыл бұрын

That was perfect. You couldn't have explained it any better... Now I can face my test with confidence.

@cynthiadavila3664 10 жыл бұрын

Thanks for simplifying and explaining comparative and absolute advantage! So helpful

@DeityBladeGaming 7 жыл бұрын

Mid 2017 and this video is still SUPER helpful!!

@nikkiledoan 13 жыл бұрын

thank you so much. you have a genius way to make economics as easy as a cake.

@ra3don92 13 жыл бұрын

You did a great job, this was extremely helpful.

@entrepreneur1987 14 жыл бұрын

great video ...good explanation...helped a lot ...thanx for making this video....

@historiachibcha1 15 жыл бұрын

Thank you so much.. I really enjoy your videos .. they are simple and on target.... Cheers from Argentina

@RoseJohannes 11 жыл бұрын

You explained that perfectly thank you. ;) Much better than my social sciences teacher!

@SheenaBhatnagar 13 жыл бұрын

lovely explaination..... i wish my economics teacher had the skill to explain such 'complicated' stuff in such easy manner.... :):) thank you soo much phil :):)

@Georgenajjar822 8 жыл бұрын

extremely helpful and a simple explanation in less than 10 minutes.

@nwankwojc 14 жыл бұрын

Thanks and God bless...great teaching !!!

@ryancollins2355 8 жыл бұрын

Quality Video, explains it clearly and much better than my Economics teacher!!!

@parteibonza 8 жыл бұрын

Your teacher is probably just fine. You just need to listen better.

@edmondherrera6288 8 жыл бұрын

+parteibonza nah man

@samsnyder7071 9 жыл бұрын

A simple world. Thanks for explaining!

@softep1 12 жыл бұрын

Thank you! You explain it much better than my professor.

@charmyloulou 12 жыл бұрын

this guy is a legend! Thanks for the clarity!!!

@madlife7274 10 жыл бұрын

this guy is the best.... thanks so much... you help me continue with my revision... this chapter was a little but confusing for me.... but this video helped me...

@rkent06 11 жыл бұрын

Such good videos for revision! brings it all back

@iSwtGirl91i 16 жыл бұрын

thank you! your explanations were clear and simple. same for your examples.

@90Maarc 10 жыл бұрын

You are the boss! Struggled so long with this comp.adv thanks a lot!

@jenniejane2423 12 жыл бұрын

this is perfectly helpful, clean and clear explanation.

@wazup134 13 жыл бұрын

My international Economics exam is tomorrow and you have just saved me THANK YOU! :D

@Skelkro 7 жыл бұрын

Thanks a lot. Helps a lot for my AP microeconomics class.

@tanyabelleau 12 жыл бұрын

thank you so much ! Your video is so helpful ! Thank you for uploading it ! You explain much better than my prof ! Once again, thank you for your video !

@MigOp21 13 жыл бұрын

that was very clear, took a while to understand it from my economic's teacher's perspective, and was still sort of fuzzy, thank you for using the example of hours, and not just production units!

@yasa446ify 8 жыл бұрын

thank you for your good explanation, really helped me out. and for sure is better than my lecturer's explaination

@DavidsReviews 12 жыл бұрын

I love you. Got a nice microeconomics exam tomorrow.

@chaoamelia 14 жыл бұрын

DUDE. you are awesome. this is so easy to understand after you've explained it. awesome stuff. keep making vids please.

@junaidahmed90 15 жыл бұрын

EXCELLENT...very much clear Thank you sir

@arzelya999 9 жыл бұрын

thank you so much it helps me in my exams . please continue making such videos they are extremely helpful.I am not native speaker and you speak very clear 😊

@rorymac007 12 жыл бұрын

Great video. a basic example explained in clear steps. in 7 minutes youve explained something my idiot lecture took 4 1 hr classes.]

@ahninn7781 8 жыл бұрын

Hi Bro Very nice video about this simple but not straight forward theory.

@steakyhumus5628 4 ай бұрын

This was the best explanation, thank you so much! It really helped.

@khizar8286 4 жыл бұрын

Thank you for sharing. Gonna help me a lot in tomorrow's exam

@nmhrg 14 жыл бұрын

Oh my god, I wish I would have watched this 2years ago when I took economics. Thanks!!

@chubstahm 12 жыл бұрын

This was so simple the way you explained it. Thank you, thank you, thank you!

@gregorymatthew2684 3 жыл бұрын

not all people with high knowledge can teach clearly, teaching is an art

@clrthrn 11 жыл бұрын

Your app is brilliant and just saved my arse on an essay. THANK YOU!

@lakshikamadushani7768 8 жыл бұрын

This video was very helpful for me.thank you very much

@yirga4401 11 жыл бұрын

Thank you very much sir! It is now clear to me and keep it up!

@kiranmathew92 14 жыл бұрын

Thank you. Your videos mean I have some hope of getting an A in econ :)

@LocksLair 13 жыл бұрын

Thnx, i needed that, was a bit confused in my international trade class. Thanks

@sadn990 11 жыл бұрын

This is the best explanation ever. thanks man!

@normanozwald 8 жыл бұрын

Thank you so much for making this. You saved me from submitting my homework with the wrong answers tomorrow.

@KAMM1973 8 жыл бұрын

+normanozwald FUNNY

@nadinefaithjosue6737 10 жыл бұрын

This video is great. It has really helped me understand our lesson in Econs recently. You're such an excellent teacher! Confusions were gone now! :)

@viperanas1 9 жыл бұрын

Great and simple explanation, thanks !!

@lesliewalker1894 11 жыл бұрын

Comparative Advantage is tricky, but you explain it perfectly :D