https://padlet.com/akramyousuf/v6j1ajvuy6jdyb40 en-us 2022-11-17 19:14:22 UTC 2022-12-06 02:05:42 UTC hello@padlet.com akramyousuf https://padlet.com/akramyousuf/v6j1ajvuy6jdyb40/wish/2388902257 The purpose of this topic is to explain comparitive advantage when trading and the  advantageous created for all who take part in it, including countries, companies, and individuals. 
Comparitive advantage from trade is the ability  to produce a good or service at a lower opportunity costs then its trading partners. ]]> 2022-11-17 19:51:57 UTC https://padlet.com/akramyousuf/v6j1ajvuy6jdyb40/wish/2388902257 akramyousuf https://padlet.com/akramyousuf/v6j1ajvuy6jdyb40/wish/2388928278 The article explains the importance of Comparative Advantage in trade and the various ways it can be applied. The article begins by providing the definition of Comparative Advantage and its origins. The article provides many different examples of the theory and reveals the advantages and disadvantages when its being used.

The article was chosen because it provides a concise overview of the whole theory and provides many contemporary examples that can be understood for any reader. The article also explains clearly the pros and cons of the theory being used and how it affects all participants in it including those who are not actively taking part in the trade such as the average person.]]> 2022-11-17 20:10:47 UTC https://padlet.com/akramyousuf/v6j1ajvuy6jdyb40/wish/2388928278 nathanielessendi1 https://padlet.com/akramyousuf/v6j1ajvuy6jdyb40/wish/2398256969 https://www.uregina.ca/arts/economics/assets/docs/pdf/papers/104.pdf

This is an article by Researcher Sung-Chul Lee that compares the comparative advantage Canada has in the United States versus 31 other countries. In page 6 of the article, the Researcher found that Canada had a comparative advantage in the US compared to other countries when it came to trading Primary Goods. Additionally, Canada had a disadvantage when trading Secondary goods (manufacturing) in the US.

The reason I chose this article is the amount of detail it gives when comparing Canada and other countries when it comes to trading to the United States. Not only does it list where Canada has an advantage or a disadvantage, it also lists where advantage or disadvantaged has changed, among other things.]]> 2022-11-25 20:51:51 UTC https://padlet.com/akramyousuf/v6j1ajvuy6jdyb40/wish/2398256969 akramyousuf https://padlet.com/akramyousuf/v6j1ajvuy6jdyb40/wish/2409491733 This image shows the many forest resources that Canada is a top exporter in and the comparative advantage it has when ranked among other nations. Canada is relied for its softwood lumber as it has a large resource of it. Other nations such as the Unites Stated have softwood lumber but is difficult for them to obtain due to it tough policies and limited quantity. With Canada having 30% of the world's forest area, it can produce forest products at a greater advantage.
This image was chosen because it shows the various amounts of lumber that Canada exports and the competitive advantage it has trading it globally.




]]> 2022-12-05 17:16:56 UTC https://padlet.com/akramyousuf/v6j1ajvuy6jdyb40/wish/2409491733 nathanielessendi1 https://padlet.com/akramyousuf/v6j1ajvuy6jdyb40/wish/2409691864 https://www.international.gc.ca/trade-commerce/economist-economiste/state_of_trade-commerce_international/special_feature-2009-article_special.aspx?lang=eng

This article is a more general one that looks at Canada's role in relation to the emerging markets of the world. Canada's opportunities for trade are assessed, as well as it's comparative advantage. I like this article because it talks about Canada's comparative advantage in markets outside of the US. With this article, we can see a more global perspective of Canada's comparative advantage, especially when it comes to the emerging markets of the world. It is interesting to know about Canada's place in the global economy, as well as what Canada can gain from trading with the emerging markets of the world.]]> 2022-12-05 19:42:36 UTC https://padlet.com/akramyousuf/v6j1ajvuy6jdyb40/wish/2409691864 akramyousuf https://padlet.com/akramyousuf/v6j1ajvuy6jdyb40/wish/2409706692 The video is a speech by the Governor of the Bank of Canada Tiff Macklem on how Canada can strengthen its exports by focusing on the comparative advantage that it has in particular markets. The governor explains how Canada has many resources and goods that other nations are interested in bringing to their markets. The Governor further explains that by Canada focusing on the comparative advantage that it has on resources such as raw materials or  manufactured goods that are needed by countries such as the United States, it can expect greater growth in its economy.

This article was chosen because it highlights how the Bank of Canada sees the comparative advantage it has on its resources compared to other markets around the world. The video describes how Canada's resources are needed in many markets and how those resources should be strengthened to meet the demand in those markets, ultimately boosting Canada's economy.]]> 2022-12-05 19:56:36 UTC https://padlet.com/akramyousuf/v6j1ajvuy6jdyb40/wish/2409706692 nathanielessendi1 https://padlet.com/akramyousuf/v6j1ajvuy6jdyb40/wish/2409727472 https://www.international.gc.ca/trade-commerce/economist-economiste/state_of_trade-commerce_international/special_feature-2012-article_special.aspx?lang=eng

This article, though not directly talking about comparative advantage, talks about Canada's gains from international trade. I think this would be important to know when talking about Comparative Advantage. The reason this would be important is knowing what Canada can benefit from in terms of trading internationally will allow the country to choose where it wants to specialize. If there are goods and services that Canada can get internationally, and at a better rate than can be produced locally, the choice of focusing on the country's strengths emerges. However, in order to make the choice of focus on the strengths of the country, an assessment of Canada's gains must be done first. This is where an article like this would come in. ]]> 2022-12-05 20:15:35 UTC https://padlet.com/akramyousuf/v6j1ajvuy6jdyb40/wish/2409727472 nathanielessendi1 https://padlet.com/akramyousuf/v6j1ajvuy6jdyb40/wish/2409747769 https://d3n8a8pro7vhmx.cloudfront.net/canadaaction/pages/2135/attachments/original/1610435214/canada_top_exporter_of_minerals_metals_in_the_world.jpg?1610435214

This image shows 16 different metals and minerals that Canada exports. In each of these metals and minerals, Canada is top 10 in the world when it comes to exports. It is interesting to note that Canada is in the top 5 of many of these 16 metals and minerals. Canada is even ranked #1 for one of the minerals: Potash. Knowing Canada's strengths is important for both Trade and for Comparative Advantage. Canada's relatively strong rankings in mineral exports can be a potential avenue that the country can focus on when it comes to growing the economy. Emphasizing the strengths of the Country in exports could make the economy more efficient.]]> 2022-12-05 20:36:46 UTC https://padlet.com/akramyousuf/v6j1ajvuy6jdyb40/wish/2409747769 akramyousuf https://padlet.com/akramyousuf/v6j1ajvuy6jdyb40/wish/2409756808 The video looks at Canada's lumber industry and the reasons for why it has a comparative advantage exporting it compared to other nations. The video explains that Canada has a comparative advantage due to its low costs of producing lumber and the needed demand that occurs outside of Canada for its lumber. The video shows how at different times Canada's comparative advantage over its lumber industry can either provide great economic benefits or provide little growth. The video explains for instance that Canada's advantage in the lumber industry can be attributed to lower production costs such as subsidies from the government and little regulations when exporting. The video also shows that governments from abroad introducing tougher regulations such as tariffs on exports can raise prices on lumber, losing the economic benefit that was once present.

The video was chosen because it highlights the advantages and disadvantages Canada has in the lumber market. The video provides graphs that illustrates how Canada is able to have a comparative advantage in the international market. The video also provides the losses and gains when exporting or importing the material.



]]> 2022-12-05 20:46:15 UTC https://padlet.com/akramyousuf/v6j1ajvuy6jdyb40/wish/2409756808 nathanielessendi1 https://padlet.com/akramyousuf/v6j1ajvuy6jdyb40/wish/2409800850 https://youtu.be/qBc5gWfOuIA
This is a video that looks at Canada's top imports and exports. On top of listing each import and export, the video looks at the estimated worth of each. Additionally, the video compares the amount imported between each import via a percentage. In addition to this, the video compares how much the country, Canada, trades with other nations, via a percentage. It is interesting that Canada's biggest export, the US, have a percentage of 73.5. That shows how close the two countries are. It's important in a way to know these things because you can see where potential avenues of growth can be.]]> 2022-12-05 21:37:32 UTC https://padlet.com/akramyousuf/v6j1ajvuy6jdyb40/wish/2409800850 akramyousuf https://padlet.com/akramyousuf/v6j1ajvuy6jdyb40/wish/2409903982 This video explains Canada's production of canola oil compared to the rest of the world and the comparative advantage that Canada has when producing and exporting to other nations. The video begins by explaining the amount of canola Canada yields in contrasts to other nations and the advantages and disadvantages that it has when exporting compared to other nations.

This video was chosen because it compares the comparative advantage that Canada has against other nations. The videos displays various graphs comparing Canada's yield to other canola producing nations and the comparative advantages and disadvantaged they have against each other.]]> 2022-12-06 00:13:46 UTC https://padlet.com/akramyousuf/v6j1ajvuy6jdyb40/wish/2409903982 akramyousuf https://padlet.com/akramyousuf/v6j1ajvuy6jdyb40/wish/2410002308 1. During the research of this project, we learned how comparative advantage is advantageous in boosting a countries economy, particularly Canada's. We read and watched videos on how Canada uses the goods and services it has and how it exports it abroad to other nations that need it in their markets. We were also able to understand the advantages and disadvantages of comparative advantage that Canada has when exporting their resources with other nations. 

2. This topic is relevant to us as comparative advantage is used among the resources present among us. For instance, in the province of Ontario, the forestry industry is profitable as there is a desired market for it across the world. We also see other resources such as raw materials being heavily extracted in Canada and exported to countries that desire it in their markets.

3. The most important thing that we can pass on to our family members after learning this topic is that Canada has a comparative advantage in certain resources, and that those resources should be focused on trading abroad to other markets that desire it as it has the ability to greatly boosts its economy.

]]> 2022-12-06 02:01:52 UTC https://padlet.com/akramyousuf/v6j1ajvuy6jdyb40/wish/2410002308