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

Рет қаралды 215,229

3 жыл бұрын

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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Follow me on Instagram: 5_minute_economics
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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

Пікірлер: 434

@_noobgamers_7892 3 жыл бұрын

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 жыл бұрын

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

@Deevnesh5191 2 жыл бұрын

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 жыл бұрын

So happy to know 😊

@bhoomika6505 2 жыл бұрын

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

@5MinuteEconomics 2 жыл бұрын

Glad it was helpful! Keep watching! :D

@ezazahmed8118 2 жыл бұрын

Your knowledge,elegance and grace while teaching is commendable❤️

@5MinuteEconomics 2 жыл бұрын

Thank you so much :)

@elowkaisiikape6176 2 жыл бұрын

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

@5MinuteEconomics 2 жыл бұрын

So happy to know! Thank you so much 😊

@rishabhrastogi5225 Жыл бұрын

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

@angiemenapa 2 жыл бұрын

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 жыл бұрын

Thank you so much! Glad to know this ❤️

@jishnuc9043 3 жыл бұрын

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 жыл бұрын

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

@renumalik0002 2 жыл бұрын

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

@RajeevSingh-dw7xj Жыл бұрын

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

@studywithabdulwaheed3390 2 жыл бұрын

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 жыл бұрын

Thank you so much for your kind words! ☺️

@sreesai334 Жыл бұрын

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

@5MinuteEconomics Жыл бұрын

Happy to help :D

@prathamkumar6632 2 жыл бұрын

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

@5MinuteEconomics 2 жыл бұрын

Glad to know ☺️

@vinualex1 3 жыл бұрын

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

@5MinuteEconomics 3 жыл бұрын

Thank you so much ☺️ Glad to know!

@avantikasaklani 2 жыл бұрын

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 жыл бұрын

So happy to know that! Keep watching

@odiacumeconomics6834 2 жыл бұрын

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

@5MinuteEconomics 2 жыл бұрын

Thank you so much! Keep watching ☺️

@vrishtigupta5274 3 жыл бұрын

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

@5MinuteEconomics 3 жыл бұрын

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

@riddhitrivedi9626 2 жыл бұрын

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

@5MinuteEconomics 2 жыл бұрын

Thank you so much 😊

@ECONOMICS265 2 жыл бұрын

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 Жыл бұрын

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

@shubhambang3870 Жыл бұрын

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

@sandhyaaaaaaaaaaa 2 жыл бұрын

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 жыл бұрын

So happy to know! Keep watching 😊

@sahilkhosla3718 3 жыл бұрын

By the way this professor is pretty cute 😅

@5MinuteEconomics 3 жыл бұрын

Thank you 😊

@mrryu8801 2 жыл бұрын

😒 padle bhai 😒😒😒

@SUVLOVER-xy8et 2 жыл бұрын

Hmm bhai 😍

@babalsethi2056 2 жыл бұрын

@@5MinuteEconomics Welcome

@ianimeshganguly 2 жыл бұрын

@@mrryu8801 😅😂😂😂

@HanishFatima 2 ай бұрын

Wow amazingly described the complete concept Thank you very much ❤

@its_ishasheth Жыл бұрын

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. 😢

@himanshusomani8579 3 жыл бұрын

Perfect timing was just looking for it ! 😉

@5MinuteEconomics 3 жыл бұрын

Glad you found it then! 🥰

@priyodarshini_banerjee Жыл бұрын

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

@user-eu9nm2fu8q 3 жыл бұрын

very helpful and great examples used thank you

@5MinuteEconomics 3 жыл бұрын

Glad I could help you! You’re welcome 😊

@hamzahusain1890 2 жыл бұрын

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 жыл бұрын

Oh wow! Congratulations to you! :D

@hamzahusain1890 2 жыл бұрын

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

@5MinuteEconomics 2 жыл бұрын

@@hamzahusain1890 Good luck :)

@ashifdocs17 2 жыл бұрын

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

@5MinuteEconomics 2 жыл бұрын

Haha so happy to know! Keep watching 😊

@jyothisbabugeorge2328 3 жыл бұрын

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 жыл бұрын

Thank you so much ☺️ I have done one already. You can have a look at it- kzfaq.info/get/bejne/aNGpfJNz38-6gp8.html

@jyothisbabugeorge2328 3 жыл бұрын

@@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 жыл бұрын

@@jyothisbabugeorge2328 Sorry might have missed it 😊

@anusuachowdhury2544 Жыл бұрын

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

@vikrantmassey3745 2 жыл бұрын

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

@5MinuteEconomics 2 жыл бұрын

Happy to know! Keep watching 🥰

@rathorenisha359 Жыл бұрын

Thank you so much mam for wonderful explanation 😊

@raaganshkaushik1347 3 ай бұрын

yaar ye kitni awesome hai.....

@Fathimasuzna-dc3nr 5 күн бұрын

thankyou i was so confused , now i understood it

@antisocialbarbie1587 Жыл бұрын

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

@sujatagajmer8815 Жыл бұрын

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

@5MinuteEconomics Жыл бұрын

Thank you so much :D

@bijaysahoo7486 2 жыл бұрын

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

@5MinuteEconomics 2 жыл бұрын

Glad to know! Keep watching 😊

@adedare9208 3 жыл бұрын

This was super simple and useful. Thank you!

@5MinuteEconomics 3 жыл бұрын

Glad to know that! You’re welcome 😊

@RajathHM Жыл бұрын

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

@bhargav7476 2 жыл бұрын

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

@5MinuteEconomics 2 жыл бұрын

Thank you 😊 Glad to know!

@bhargav7476 2 жыл бұрын

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

@5MinuteEconomics 2 жыл бұрын

@@bhargav7476 Surely in future!

@nlvalli1962 2 жыл бұрын

Very nice, explained in a clear n simple way

@5MinuteEconomics 2 жыл бұрын

Thank you so much 😊

@divyagopal7626 7 ай бұрын

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

@5MinuteEconomics 5 ай бұрын

Happy to know!

@shruti3227 Жыл бұрын

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 Жыл бұрын

That is so sweet of you :D

@mukeshrai5499 2 жыл бұрын

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

@5MinuteEconomics 2 жыл бұрын

Thank you so much 😀

@niks1363 3 жыл бұрын

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...

@saurabhgoyal6801 2 жыл бұрын

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

@5MinuteEconomics Жыл бұрын

Thank you so much :D

@altafkarim8670 2 жыл бұрын

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

@sarveshjadhav4958 Жыл бұрын

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?

@imsonal Жыл бұрын

Thanks a lot ma'am helped me a lot ✨

@thatdevika9377 3 жыл бұрын

Thankyou for this video..very helpful!

@5MinuteEconomics 2 жыл бұрын

So glad to know! Keep watching ❤️

@ajaykalawatikala6118 2 жыл бұрын

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 жыл бұрын

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

@sapnakanojia5974 7 ай бұрын

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

@5MinuteEconomics 4 ай бұрын

Thank you so much :)

@pavanading8166 2 жыл бұрын

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

@5MinuteEconomics 2 жыл бұрын

I’m glad I could help! Good luck ❤️

@thesrinathkamath 21 күн бұрын

wow, beautifully explained!

@5MinuteEconomics 15 күн бұрын

Glad you liked it!

@teenachhatria4939 19 күн бұрын

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

@kanishkakhunteta Жыл бұрын

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.

@divyagopal7626 3 ай бұрын

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 ай бұрын

It's my pleasure :)

@renumalik0002 2 жыл бұрын

This was the best video lecture till date 💕

@5MinuteEconomics 2 жыл бұрын

Thank you so much 😀

@taoheedchowdhury5239 3 жыл бұрын

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

@5MinuteEconomics 3 жыл бұрын

Thank you so much! Glad to know :)

@Venky_smart846 Жыл бұрын

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 Жыл бұрын

Thank you so much :D

@yashawantakumar5571 3 жыл бұрын

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

@5MinuteEconomics 3 жыл бұрын

Haha thank you so much! Keep watching 😊

@yashawantakumar5571 3 жыл бұрын

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

@sarthakbose9669 2 жыл бұрын

You explained it really well!

@5MinuteEconomics 2 жыл бұрын

Thank you so much :)

@prernasahu1982 2 жыл бұрын

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

@5MinuteEconomics 2 жыл бұрын

Thanks a lot :)

@EnigMagnum 3 жыл бұрын

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

@5MinuteEconomics 3 жыл бұрын

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

@EnigMagnum 3 жыл бұрын

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

@5MinuteEconomics 3 жыл бұрын

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

@balramyadav5652 2 жыл бұрын

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

@5MinuteEconomics 2 жыл бұрын

Always happy to help! 😊

@atifmurtaza5608 2 жыл бұрын

Thank You ma'am. You teach very clearly.

@5MinuteEconomics 2 жыл бұрын

Thank you so much :D

@tanvir1638 10 ай бұрын

I just fall in love (with economics)

@wardanaseer3145 2 жыл бұрын

I wanna to know that what ratio suitable for both is it 2 : 0.125

@BhaviAdhikari 2 жыл бұрын

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

@5MinuteEconomics 2 жыл бұрын

I hope so! Good luck :)

@pratimaupadhyay7922 9 ай бұрын

Thanku so much.....❤

@ankushmishra3521 3 жыл бұрын

When Vidhi Ma'am uploads a new lecture video.. Students be like - "Ab maja aayega na bhidu"

@parthjoshi3181 3 жыл бұрын

kids these days 🤦‍♂️🤦‍♂️

@ankushmishra3521 3 жыл бұрын

@@parthjoshi3181 😂😂🤦🏻‍♂️

@5MinuteEconomics 3 жыл бұрын

@@parthjoshi3181 🤷‍♀️🤷‍♀️

@5MinuteEconomics 3 жыл бұрын

Ankush 😂😂

@SwapnaSwapna-nk2uj 3 жыл бұрын

ya it's true

@gagankochar0212 3 жыл бұрын

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 жыл бұрын

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

@shallu_navneetian Жыл бұрын

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

@musictunes4318 2 жыл бұрын

Great ma'am Thank you ☺️

@5MinuteEconomics 2 жыл бұрын

Most welcome 😊 Keep watching :)

@Darkang111sam 3 жыл бұрын

very helpful video. thanks a lot.

@5MinuteEconomics 3 жыл бұрын

Glad to know! ❤️

@soumalyamallick7438 2 жыл бұрын

I understood it nicely. Thank you Mam

@5MinuteEconomics 2 жыл бұрын

Thank you so much 😀

@amitbangar6411 2 жыл бұрын

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

@5MinuteEconomics 2 жыл бұрын

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

@bhagwankolase6208 3 жыл бұрын

Thanks so much Mam

@5MinuteEconomics 3 жыл бұрын

You’re welcome 😊

@shubhipathak2000 2 жыл бұрын

Applies for short run period?

@tharunreddykstharunteddyks1447 Жыл бұрын

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

@5MinuteEconomics Жыл бұрын

You're welcome :)

@ch.Akhlaqahmed Жыл бұрын

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

@5MinuteEconomics Жыл бұрын

Hahah thanks!

@jerin4808 2 жыл бұрын

I was so confused before watching.. thanks ✨

@5MinuteEconomics 2 жыл бұрын

Thank you so much :)

@ishuvlogs03 3 жыл бұрын

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 жыл бұрын

Thank you 😊 Will try doing so.

@sandhyagupta4510 2 жыл бұрын

Hello mam can you please explain why you have taken 10 by 20 in India for producing one ton of cotton and 20 by 10 in producing one laptop just a confusion mam....

@user-zo8op2yc5g 8 ай бұрын

If i want to ask you questions related to economics , how should i contact you? Pls tell me ma'am.

@rithikaajay8340 2 жыл бұрын

thank you so much for this!!!!!

@5MinuteEconomics 2 жыл бұрын

You’re welcome 😊 Keep watching ❤️

@bharathchilukuri Жыл бұрын

Awesome Teaching Qualities ❤

@5MinuteEconomics Жыл бұрын

Thank you so much :)

@princeranawat4633 2 жыл бұрын

Very helpful you are best teacher🔥

@5MinuteEconomics 2 жыл бұрын

Glad you think so! :D

@sanketbaheti 2 жыл бұрын

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

@5MinuteEconomics 2 жыл бұрын

Hahah! You're welcome :)

@Qanwaz100 Жыл бұрын

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

@5MinuteEconomics Жыл бұрын

Thank you so much for your appreciation :)

@boyarvlogs.9367 2 жыл бұрын

So sweet ❣️and the explanation is amazing

@5MinuteEconomics 2 жыл бұрын

Thank you so much 😀

@piriyadharshineesethuraman3476 2 жыл бұрын

So clear,thanks

@5MinuteEconomics 2 жыл бұрын

Thank you so much 😀

@dianagrace776 6 ай бұрын

For your last tip regarding whoever produces more on the y-axes has the comparative advantage - if you change the product from laptops to cotton, your tip would suggest that India has the competitive advantage for cotton but the numbers from before reveal that it is Nepal who has the competitive advantage. Therefore, isn't it the absolute advantage that is visible on the axes? And how are we then supposed to figure out the competitive advantage through the diagram?

@rohannaik8607 Жыл бұрын

Very helpful and very well explained thank you mam😊

@5MinuteEconomics Жыл бұрын

Thank you so much :)

@marryrosealbania468 Жыл бұрын

What is the difference of scolper Samuelson and ricardian theory?

@Harshad3036 2 жыл бұрын

Are thank you mam. .... I liked your video ... Very usefull to exam ago...

@5MinuteEconomics 2 жыл бұрын

Thank you 😊 Keep watching!

@Harshad3036 2 жыл бұрын

is ok .mam.🙏

@VAIBHAV-fl6dl 2 жыл бұрын

Ricardo did not base his comparative advantage theory on opportunity cost, he used labour theory for simplification purposes. It was Haberler in 1936 who explained comparative advantage theory in terms of opportunity cost.

@anmoldedha4089 Жыл бұрын

yes, he presents it with the help of the labour theory of value, but the problem is labour theory was itself get rejected in the early 20th century then haberler comes and explains using the opportunity cost.