Understanding the Determinants of Trade | Microeconomics

Let's take a look at the determinants of international trade in this video. We'll start with a review of trade terminology, such as comparative advantage, consumer surplus, and producer surplus. Then we'll look at the determinants of trade-the factors that influence the flow of goods and services between countries-and the gains and losses of exporting and importing countries.
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00:00 Intro
00:31 Trade terminology
00:48 The determinants of trade
02:22 The gains and losses of an exporting country
04:57 The gains and losses of an importing country