🌿Opportunity Cost, Comparative Advantage & Trade Decisions – Live Recorded Lesson🌿 скачать в хорошем качестве

🌿Opportunity Cost, Comparative Advantage & Trade Decisions – Live Recorded Lesson🌿

In today’s Introduction to Economics class, we covered the core foundations of economic decision-making. Students learned the concept of opportunity cost and how every choice involves a trade-off. We then explored absolute advantage vs. comparative advantage, understanding how efficiency and relative costs determine specialization. The session also included deriving the Production Possibility Frontier (PPF) equation and using it to analyze resource allocation and efficiency. Finally, we discussed when trade is beneficial and how individuals or countries can gain from exchange through comparative advantage. #IntroductionToEconomics #OpportunityCost #ComparativeAdvantage #AbsoluteAdvantage #PPF #ProductionPossibilityFrontier #TradeTheory #EconomicsClass #MicroeconomicsBasics #EconomicDecisionMaking #Specialization #GainsFromTrade