Understanding the Gains from Specialisation and Trade
- AQA, Edexcel, OCR, IB, Eduqas, WJEC
Last updated 21 Mar 2021
This short revision video takes students through the law of comparative advantage and uses PPF analysis to show how a country such as Malawi could benefit from specialisation and trade with a nation such as Australia. Evaluation would include questioning the assumptions of the basic theory.