The Principle of Comparative Advantage

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.

An episode of the 60-Second Adventures in Economics - for iPod/iPhone podcast, hosted by The Open University, titled "The Principle of Comparative Advantage" was published on August 29, 2012 and runs 1 minutes.

August 29, 2012 ·1m · 60-Second Adventures in Economics - for iPod/iPhone

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Summary

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.

Episode Description

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.

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