Ch 3: Comparative & Absolute Advantage, Specialization & Trade

About This Chapter

Watch the video lessons in this chapter to learn about comparative advantages and absolute advantages. Also discover the economic advantages to specialization and trade.

Comparative & Absolute Advantage, Specialization & Trade - Chapter Summary

The expert instructors in this series of video lessons will explain the concepts of comparative advantages, absolute advantages, and how specialization and trade improved economics. If you have any questions during these video lessons ask our instructors for clarification. After this chapter you should have a better understanding of:

  • What comparative advantages are
  • The gains of trade that come with specialization
  • Absolute advantages
  • Differences between comparative and absolute advantages

In addition to these video lessons the chapter also includes lesson worksheets and quizzes. Use these resources to fortify what you have learned and discover what you may want to review. In your review use video tags to go directly to key topics in the video lesson or read over the lesson transcripts.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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