Comparing Two Ways of Defining Absolute Advantage

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Hi everyone, in this video I compare and connect two ways of defining absolute advantage, and the issue is really if we fix the amount of resources that each of our economic agents have (or not).
0:00 Introduction
0:21 Definition 1 - Comparing Total Product when we fix the Amount of Resources
2:27 Definition 2 - Seeing how much resource is needed to make 1 unit
6:28 Brief Discussion
Further References
*Examples of the first type of definition are pretty common, here are some texts / resources:
Karlan, D & Morduch, J. (2018). Economics. 2nd Ed. McGraw Hill Education
Mateer, D. & Coppock, L. (2021). Principles of Economics. 3rd Ed. Norton Publishing.
Core Econ (2023). Unit 2 Comparative Advantage, Specialisation and Markets. www.core-econ.org/the-economy...
* Examples of the second types of definition are less common
Holden, R., Stevenson, B. & Wolfers, J. (2023) Principles of Macroeconomics.
**Sorry about the audio I live in a high traffic area with dogs and planes and builders. One day I will get (learn how to) get a better set-up

[@aumkarbhave6737]

Could you by any chance teach a bit of macroeconomics? Also your videos have been really helpful for my exams

[@econhelp_official]

Yes, absolutely, that sounds like heaps of fun. There are a couple of problems though, i. If I was going to start doing macro I would start at the beginning, which is GDP, which is probably not so interesting for you, ii. Macro is taught a bit differently around the world. So, if you could reply with some specific topics that are bothering you, and what text book you are using (or maybe reference to some specific questions, I could see from those questions what you would like me to cover). You can always email me at [e-mail] if you want to give more information and if e-mail is easier. I usually do 1 video a week (looking after toddler, unfortunately I don't have much time, though she's really fun so I'm definitely not complaining).

[@aumkarbhave6737]

@@econhelp_official I have mailed you