Microeconomics and Macroeconomics - Comparative advantage - input approach | Basic economic concepts | Microeconomics | Khan Academy

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. About Khan Academy: Khan Academy offers practice exercises, instructional videos, and a personalized learning dashboard that empower learners to study at their own pace in and outside of the classroom. We tackle math, science, computer programming, history, art history, economics, and more. Our math missions guide learners from kindergarten to calculus using state-of-the-art, adaptive technology that identifies strengths and learning gaps. We've also partnered with institutions like NASA, The Museum of Modern Art, The California Academy of Sciences, and MIT to offer specialized content. For free. For everyone. Forever. #YouCanLearnAnything Subscribe to KhanAcademy’s Microeconomics channel: https://www.youtube.com/channel/UC_6zQ54DjQJdLodwsxAsdZg Subscribe to KhanAcademy: https://www.youtube.com/subscription_center?add_user=khanacademy