A crucial concept for an Economist is Comparative Advantage though. You MUST understand it and the impact it has on global trade and flows of goods, services and capital.
Follow the presentation through but also look at the Youtube clip to ensure that you can explain it both diagrammatically, numerically and in words!!
https://www.youtube.com/watch?v=Vvfzaq72wd0
https://www.youtube.com/watch?v=Vvfzaq72wd0
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