In this video we use the input approach to determine comparative advantage. We can determine who has comparative advantage in producing a good based the amount of time or the number of inputs (land, labor and capital) required for the individual or the country to produce a certain quantity of output.
Microeconomics on Khan Academy: Microeconomics is all about how individual actors make decisions. Learn how supply and demand determine prices, how companies think about competition, and more! We hit the traditional topics from a college-level microeconomics course.
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