https://padlet.com/cshkolnik/x9skuqxhxfhm Made with a little mischief en-us 2019-04-15 15:41:06 UTC 2026-02-27 06:41:01 UTC hello@padlet.com https://padlet.net/icons/png/1f4b6.png cshkolnik https://padlet.com/cshkolnik/x9skuqxhxfhm/wish/351702606 This is a rather interesting video on the subject, using a simplified model to explain how countries choose production based on their own efficiency and neighboring countries' capabilities, and how trade between said countries can be mutually beneficial. 

I chose this video as a global introduction to the topic, as it clearly outlines the premises of comparative advantage and how it effects economic decisions. While it does compare countries other than Canada and the US, the applicable knowledge here is universal. ]]> 2019-04-15 15:49:11 UTC https://padlet.com/cshkolnik/x9skuqxhxfhm/wish/351702606 cshkolnik https://padlet.com/cshkolnik/x9skuqxhxfhm/wish/351706899 The short answer is rather simple. Because people stand to gain more. The long answer, the why, is explained here. Essentially, countries that specialize in a specific product tend to become more efficient over time at delivering said product. As the opportunity cost decreases, the availability increases. 

This website explains the advantages and disadvantages of trade, while having an internal link to a specific page outlining comparative advantage]]> 2019-04-15 15:59:13 UTC https://padlet.com/cshkolnik/x9skuqxhxfhm/wish/351706899 cshkolnik https://padlet.com/cshkolnik/x9skuqxhxfhm/wish/351710287 2019-04-15 16:07:29 UTC https://padlet.com/cshkolnik/x9skuqxhxfhm/wish/351710287 cshkolnik https://padlet.com/cshkolnik/x9skuqxhxfhm/wish/351710538 Well, this is more of a slideshow, really, but it's very informative. It goes over the theory of comparative advantage in a comprehensible, visual manner. 

I chose it because it's different from the other two in presentation, and therefore breaks up monotony. ]]> 2019-04-15 16:08:02 UTC https://padlet.com/cshkolnik/x9skuqxhxfhm/wish/351710538 cshkolnik https://padlet.com/cshkolnik/x9skuqxhxfhm/wish/351719781 Another rather simplistic look at comparative advantage and specialization, this time on a micro level. ]]> 2019-04-15 16:30:08 UTC https://padlet.com/cshkolnik/x9skuqxhxfhm/wish/351719781 cshkolnik https://padlet.com/cshkolnik/x9skuqxhxfhm/wish/351723853 I decided to include this as an example of the detriments of international trade: Comparative advantage only is mutually beneficial if both parties keep in mind the other party's opportunity costs. 

In this instance, Donald Drumpf (Trump) imposing tariffs on one of his countries' closest allies, both economically and politically, is and continues to be a problem between our two countries, demonstrating a lack of understanding, not only of politics, but also of international economics. ]]> 2019-04-15 16:40:45 UTC https://padlet.com/cshkolnik/x9skuqxhxfhm/wish/351723853 cshkolnik https://padlet.com/cshkolnik/x9skuqxhxfhm/wish/351726622 Real world applications for Comparative Advantage can be found quite easily, but in this instance, one country getting greedy and trying to boost their own comparative advantage can lead to backlash. We see this clearly in the 'USA vs The World' trade war going on today. Mexico, the EU and Canada all applying retaliatory measures against the USA. 

I chose these videos because they clearly demonstrate the negatives of relying on trade. Another nation's volatility can become your issue if your trade with them is high enough. ]]> 2019-04-15 16:47:16 UTC https://padlet.com/cshkolnik/x9skuqxhxfhm/wish/351726622 cshkolnik https://padlet.com/cshkolnik/x9skuqxhxfhm/wish/351730492 Another video about comparative advantage. Comparing opportunity costs in more detail than other videos. 
Comparative costs are delved into as well. 

I chose this video due to its' more comprehensive coverage of relative costs. ]]> 2019-04-15 16:57:26 UTC https://padlet.com/cshkolnik/x9skuqxhxfhm/wish/351730492 cshkolnik https://padlet.com/cshkolnik/x9skuqxhxfhm/wish/351750447 2019-04-15 17:46:28 UTC https://padlet.com/cshkolnik/x9skuqxhxfhm/wish/351750447 cshkolnik https://padlet.com/cshkolnik/x9skuqxhxfhm/wish/351778448 This video compares absolute and comparative advantage in mathematical terms. 

I chose it because I wanted to get a better view on the differences between total and Comparative advantage in the padlet. 

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