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Video of Opportunity cost and comparative advantage using an output table AP Macroeconomics Khan Academy in Economics Fundamentals course by Khan Academy channel, video No. 16 free certified online
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In this video we use the PPCs for two different countries that each produce two goods in order to create an output table based on the data in the graph. We then use the output table to determine the opportunity costs of producing each good. Finally, we determine which country as comparative advantage in each good.
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AP Macroeconomics on Khan Academy: Welcome to Economics! In this lesson we'll define Economic and introduce some of the fundamental tools and perspectives economists use to understand the world around us!
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