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Understanding the Gains from Specialisation and Trade

Level:: A-Level

Board:: AQA, Edexcel, OCR, IB, Eduqas, WJEC

Last updated 21 Mar 2021

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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.