International trade

OpenStax

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Introduction to international trade

Absolute and comparative advantage

1 A numerical example of absolute and comparative advantage

2 Gains from trade

3 Key concepts and summary

What happens when a country has an absolute advantage in all goods

1 Production possibilities and comparative advantage

2 Mutually beneficial trade with comparative advantage

3 How opportunity cost sets the boundaries of trade

4 Comparative advantage goes camping

5 Key concepts and summary

Intra-industry trade between similar economies

1 The prevalence of intra-industry trade between similar economies

2 Gains from specialization and learning

3 Economies of scale, competition, variety

4 Dynamic comparative advantage

5 Key concepts and summary

The benefits of reducing barriers to international trade

1 From interpersonal to international trade

2 Key concepts and summary

Source: OpenStax, Principles of economics. OpenStax CNX. Sep 19, 2014 Download for free at http://legacy.cnx.org/content/col11613/1.11

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