Absolute Cost Difference | Absolute Advantage Theory | Adam Smith's Theory Of International Trade

In this video we will learn the Absolute Cost Difference theory of international trade given by
Adam Smith.
This video will be very helpful for TYBA, TYBCom, NET-SET and other competitive exams.
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[@paintcapsule8048]

Best teacher ever. Thank god I found this channel 😭😭.... I hope you keep making amazing videos to help students like us 💕

[@ecoso]

Thank you, I will😊

[@ritikamalik5553]

Thank you for such a nice explanation 😊 Much grateful 🦋💯

[@ecoso]

Thank you dear for your kind words 😊

[@kalpanakudal9617]

Thank you ma'am 🎉 Easy explanation 🙏🏼

[@ecoso]

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[@sonalishelke4516]

Thank you❤

[@ecoso]

You're welcome

[@shafeequegazzali6884]

Well explained. 👍

[@ecoso]

Thank you dear

[@nature_946]

Thank you so much Best explanation and best video mam 😊❤❤

[@ecoso]

You're most welcome dear 😃

[@rohitdubey1304]

Make a video on comparative cost of taxation. 🙏

[@MrIndia589]

Thanks mam

[@sandeepkr.sharma6460]

So helpful Mam Thank You 🙏

[@ecoso]

Glad it helped you. Keep watching 'ecoso'😊

[@9768323641]

You are very good at explaining

[@ecoso]

Thank you so much 💓

[@kritikakhurana927]

Ma'am, your way of explanation is really very nice and simplified. Can you please suggest good books for different subjects in UGC NET-JRF in Economics? And also for paper 1.

[@ecoso]

Thank you for your kind words ✨️ Here is the books which I referred for NET and SET exam... For Micro, Macro, Growth and Development and International Economics - M L Jhingan Indian Economy- Dutta Sundaram Mathematical Economics- G S Monga Econometrics- Damodar Gujrathi Statistics- S P Gupta

[@kaustubh3334]

Thank You So Much Madam

[@ecoso]

You're welcome 😊

[@Vaishudongre158]

Nice explaination mam... Thank you... Plzz mam make playlist for international trade

[@ecoso]

Thank you dear 😊

[@gallanwith-Vj]

Kha thi madam aap isse pehle aap ka video kabhi dikha hi ni Keep it up mam

[@ecoso]

Thank you so much Vijay for your inspiring words. 😃Keep watching 'ecoso'🙏

[@ferozgul5566]

Mam AP ka awaz bhot acha hi plus teaching methods too

[@ecoso]

Thank you so much dear 😊

[@kuldeepdussad3621]

Mam please make video on growth modal like solow; domar ;harrod; endogenous etc it is very nice thanku

[@ecoso]

Sure👍 thanks for your kind words.

[@gallanwith-Vj]

Beautiful voice 👌

[@ecoso]

Thank you 😊

[@sharibshaikh8505]

Keep it up mam Great 👌💯

[@ecoso]

Thanks a lot🙂

[@sharibshaikh8505]

@@ecoso welcome mam 😊

[@jayhalpatrao9594]

Nice mam

[@ecoso]

Thank you 🙂

[@khalidsiddique5350]

Hello mam Mgy chamberline and cournot theory ki videos ap k lecture men chahay

[@sabiksharai1980]

Mam absolute cost difference is also called international trade?

[@kritikakhurana927]

No, absolute cost is not known as international trade. There are lots of theories which are given by different economists in different times about how international trade occurs between two countries. Out of these theories, there is a theory named as Absolute cost advantage given by Adam Smith(Father of Economics) in which he defines difference in absolute cost as the basis of trade between different countries. So, these terms are not same.. international trade means trade between different countries or trade between a country and the rest of the world. But absolute cost difference means difference in cost of goods produced by different countries. For ex:- If a country A produces good X using 2 labour days , whereas country B produces it just by using 1 labour day.. it shows their absolute cost difference.

[@sahilkhurana9599]

Mam ap konsi book prefer kroge UGC net ka liye hindi medium m

[@ecoso]

Maine NET k liye English books refer ki thi. Muze Hindi medium books ki kuchh idea nahi hai. Agar aapko koi doubts hai kisi topic me to batana. I will try to make a video on that.

[@sahilkhurana9599]

@@ecoso Mam please kravis availability theory of trade and theory of immiserising growth par video bnao

[@ecoso]

@@sahilkhurana9599 Yes sure. Wil try to do. 👍Thanks for your suggestion.

[@kaverisonar9260]

1st cmnt!

[@ecoso]

Thanks for watching 🙂

[@tanpreetsingh1127]

Agar ap mere college ke teacher hote aj topper hote hum

[@ecoso]

Ohhh... I m so glad. Thank you 😍

[@rashmirathore5319]

Kuch smjh nhi aaya