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Wednesday, 21 September 2011

Video on Comparative Advantage and PPF

There is a fantastic video which thoroughly explains the comparative advantage using the PPF curve. Using and linking the two in your exam can show the examiners your ability to use micro and macroeconomics in one argument. The link is here. Enjoy!

To learn more about PPF, click here and here. To learn more about comparative advantage, click here!

Public Bad

A good that people want to remove (e.g. rubbish). Society would rather pay to remove the good rather than leave it there.