Principles of absolute and comparative advantage

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Contents

1 Absolute and comparative advantage
2 Stages of economic integration
3 Trade creation and trade diversion
4 The Trading Possibilities Curve

Absolute and comparative advantage

This video will teach you how to determine absolute and comparative advantage.

Stages of economic integration

This video explores the different stages of economic integration including: free trade areas, customs unions, monetary unions and full economic union.

Trade creation and trade diversion

This video discusses trade creation and trade diversion.

The Trading Possibilities Curve

This video shows how specialisation can help improve trading possibilities for an economy.