Sign up for a FREE EconEdLink membership for access to a dashboard to save your favorite lesson plans and other resources, as well as a 20% discount at the Council for Economic Education store, offering best-in-class publications including Financial Fitness for Life, and High School Economics. BECOME A MEMBER!
Students will be able to:
In this economics video, students will learn about the benefits of trade using comparative advantage and play a Kahoot! game.
This video teaches the concepts of Benefits of Trade and Comparative Advantage. Comparative advantage is the principle which holds that world output is higher if every country produces and trades the good in which it has a comparative advantage. A nation’s comparative advantage occurs when it focuses on producing the good in which the opportunity cost of production is lowest. Play the Kahoot! game to test your skills! This multi-player quiz game reviews the concepts discussed in the video.