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Course: Microeconomics > Unit 1
Lesson 4: Comparative advantage and the terms of trade- Comparative advantage, specialization, and gains from trade
- Comparative advantage and absolute advantage
- Opportunity cost and comparative advantage using an output table
- Comparative advantage and absolute advantage
- Terms of trade and the gains from trade
- Input approach to determining comparative advantage
- When there aren't gains from trade
- Comparative advantage worked example
- The terms of trade
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