Instructional Video

Khan Academy: Changing Equilibria From Trade

Curated by ACT

Autarky describes a situation when countries are completely closed to trade. In this video [6:24], we explore what happens to the domestic price of a good, consumer surplus, and producer surplus, when an autarkic country opens to trade.

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consumer surplus, price of goods, producer surplus, autarky, completely closed to trade, changing equilibria from trade, khan academy, khan academy: changing equilibria from trade, price elasticity of demand, price elasticity of supply, trade deficit / surplus
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Resource Details
Grade
9th - 10th
Subjects
Social Studies & History
2 more...
Resource Type
Instructional Videos
Audiences
For Administrator Use
2 more...