Episode 49 of 60 · Financial Literacy: Cash Course
Trading to Your Advantage
Grades 6th+
Economics — Economics & Financial Literacy · Financial Literacy · Economics · Captions
About This Video
Should a country make everything it needs or trade with others? This episode of Cash Course breaks down the factors that help countries decide what to produce and when to trade. Teach your high school students about absolute and comparative advantage, opportunity cost, and how smart trade decisions benefit everyone.
Standards Met in Ohio
- 9-12.EFL.9Grades 9th, 10th, 11th, 12thWhen regions and nations use comparative advantage to produce at the lowest cost and then trade with others, production, consumption and interdependence increase.
- EFL.9-12.9Grades 9th, 10th, 11th, 12thWhen regions and nations use comparative advantage to produce at the lowest cost and then trade with others, production, consumption, and interdependence increase.