In which Adriene Hill and Jacob Clifford teach you about specialization and trade, and how countries decide whether they’re going to make stuff or trade for stuff. You’ll learn about things like comparative advantage, the production possibilities frontier and how to make pizza!
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bruh if only classes in school were this brief yet compact
Please do law and stock market crash course
this channel is awesome!
Russia can produce gas and oil much cheaper than the UK. Oh no we're at war (sort of) and we have no gas and oil.
China can make shoes much more cost effectively than the US. Oh no you're at war and you no shoes, even your soldiers have no boots.
It doesn't take into consideration government strategy and aspiration in this purist free market model. China's government is determined that China will soon produce more and better planes than the US. Especially military ones.
Thanks
Big Thanks from Taiwan! Yeah!
I'm in love, with this video and with economics. Especially this concept, which you see all around and uses everyday.
0:24 Game of Thrones time
i bet china could make more aircrafts than the united states make shoes. 🙂
nice belt
As to COVID, what was the opportunity cost to allow to produce PPEs in China instead of in the US to assure our country’s security is not dependent on the political and economic competitor and its adversary?
Also, China produces some weapons much faster and cheaper than US can. Why not import some weapons from China? We can save so many dollars on “hospitals”.
How they used planes and shoes to teach the concept…
Thank you! Specialization and trade, great!.
Thanks for providing such quality course in free…. thanks from the core of my heart
I will start by saying that the videos are really helpful and informative. But next time consider other options when displaying relative images. You went for a commercial jet manufacturing photo when describing the US, but when it came to Asia you simply showed a local cobbler. I'm not a snowflake, I understand that Asia is significantly poorer compared to the US or the 'west', but when it comes to large-scale manufacturing, that is done in big factories not handmade by cobblers.
not my proudest fap
I thought I'd chime in. Volume, perfect. Voice speed, perfect. Btw, viewers, as already commented by someone, all of these are adjustable on your device. I am loving it and so thankful for this course.
I need to play this at low speed to hear it better🤣🤣 even tho the videos are good.
Yeah mongol pizza 🍕😂
7:05 Adrian predicted this before anyone else!
mongol pizza
nice belt mr clifford
Sometimes "inefficiency" is a good thing when it makes systems or societies more resilient
Don't get me wrong, But Adrien is super hot.
The logic taught here makes so much sense when you play a game like Anno 1800! You have to decide if it's what's more efficient to manufacture or trade.
Damn. I can’t imagine not being a native English speaker and trying to understand this. They speak sooooo fast! Slowing it down to 0.75x makes it better for those struggling.
i love you guys videos but plz Taiwan is not a country !！！！！！！！！！
Them: We're the most useful field, take that physics.
Also them: Doesn't use proper physics in there opening them when there sliding on the chart.
I just want to say, actually, China can produce far more shoes and planes, lol. Well, I know that’s not important.
0:52 The Greens
nah nah nah nah , say what you want but econ can never reach the level of physics . NEVER!!!!!!!. physics till i die (literally) .
My brain hurts a little bit 🙂
Love it!
sorry but I think China can make more shoes than us 🙁
fortnite
7:56 ah man you're going to get some hate comments form china about Taiwan.
Good video
🤣 take that physics…
Crash course? More like cash course…
Oh and shouldn't the curve in this case actually be a straight line?
Wait a minute… what goes for countries and goods might also go for people and personal choices… So for example: if I'm good at studying a topic like say philosophy, but bad at studying economics, then I might be better off just studying philosophy and getting my information on a case by case basis from someone that's good at studying economics.
I'm an undergrad just refreshing the topic, and these two teaching the course are making it so hard to get through with out wanting to click off.