AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
2min chapter
S E14: Gains From Trade - Why Ringo played the drums
Think Like An Economist
The Importance of International Trade
We gain from trade by each focusing on our comparative advantage, which is the job or task we can each do at the lowest opportunity cost. Americans tend to focus on producing those goods and services where they have a comparative advantage,. Likewise, australians focus on producing the goods and Services where they have an advantage.
00:00
Transcript
Episode notes
Get the Snipd
podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any
moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share
& Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode