The Principle of Comparative Advantage

K12 - OPEN_UK Psychology & Social Science

Recording date: 29/08/2012

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David Ricardo's famous economic model, predicts that if there are just two countries and two products both can be better off if they specialise and trade in the thing they’re relatively best at.

ARIADNE Info

Source url:: http://media-podcast.open.ac.uk/feeds/2190_60secondadventuresineconomics/ipod-all/21791_4__the_principle_of_comparative_advantage_itunesu.m4v
ARIADNE ID:: up2u_OPEN_UK_http://podcast.open.ac.uk/feeds/2190_60secondadventuresineconomics/ipod-all/21791_4__the_principle_of_comparative_advantage_itunesu.m4v
ARIADNE provider:: OPEN_UK
ARIADNE repository:: K12
ARIADNE license:: The Open University