AnnMarie Garcia
8/28/2018 07:22:22 pm
The idea of keeping goods only in your area and increasing prices on goods from outside would be difficult for those who couldn't afford and they wouldn't be spending on the outer things only the stuff inside making them loose money. Labor would benefit those in the country that are trading so that they can work on what they specialize and sell the goods to the other country.
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Desiree Lopez
8/28/2018 08:27:01 pm
Basically the rich stay rich because they have all the goods and sell it to the poor people for high prices making the rich people richer and the poor people poorer.
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Erik
8/29/2018 12:28:15 pm
keeping the prodution of goods in a country has its pros and cons. it creates more jobs in that country and goods become cheaper ,but typically has a weak economy.while importing and exporting has a wealthier and stronger economy ,it comes at the cost of higher unemployment in that country .
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Maryyyyyy
8/29/2018 12:41:08 pm
People will build their country or nations economy through exports and imports. Therefore providing jobs for the people to create resources to trade.
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Francisco gutierrez
8/29/2018 08:04:26 pm
Yea pretty much this whole system is crazy and like not fair to lots of people especially poor people. Idk tbh.
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Alyssa De La Teja
8/29/2018 09:50:42 pm
I believe a well balanced economy that includes imports, exports and homemade goods can greatly benefit a country. It makes sense to trade with other countries because the quality is good and it keeps prices low, which benefits the consumer. Products built in America also helps to stimulate the economy and keep unemployment rates low.
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Saul
8/29/2018 11:12:00 pm
Smith’s idea of their country producing a certain product that they were specialized within their country was better then trying to produce a product they didn’t know how to and wasting resources and not getting the outcome they wanted they’d rather let another county produce what their best at producing and trading with them. It cause prices to drop in food but depending on where a country was standing it was plainly agonizing. Causing great pshical or mental pain.
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Jezreal Hall
8/30/2018 04:36:32 pm
People with money will be getting a lot more of it, building more factories, selling more products. People with no money will be losing more, taxes will be going up, and we will have to pay a lot more for things.
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Hope James Lim
8/30/2018 07:59:48 pm
Woah! Now thats interesting! But the system is really weird!!!
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Miranda Thor
8/30/2018 11:11:24 pm
The video is overall pretty good it went over what we have been learning in class like that it's better to let those who do something bsst to do it instead of doing it yourself for a higher price. It's also talks about how each country who does something best should do it because its better to just trade instead of making it themselves for a higher price.
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Sebastian Borja
8/31/2018 12:36:24 pm
Smith's economic theory states that tough a country can try to succeed in all aspects of their economy they can't actually do it. Different countries have different strength and weekness's so they will exel at different aspects of the economy. Inevitably one will out compeat the other making it pointless to compeat whit another country who has an absolute advantage over the other. So it's better for a country and individuals in general to specialize and do what they do best instead of waisting their time doing sub par work.
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Mercedes preston
8/31/2018 12:38:57 pm
The idea of free trade created by Adam Smith was a revolutionary idea that greatly improved economies and lowered production costs in all countries involved, however there were great human costs to the drastic growth.
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Dyani Martinez
8/31/2018 12:42:11 pm
I genuinely enjoyed this video because it gave me insight on the history of trade, which was from Adam Smith and the ideas of specialization which are still applied in a way to this day.
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Emily Saenz
8/31/2018 04:47:18 pm
This video sums up what we have been learning in class about comparative advantage and absolute advantage by providing more history to it.
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Kou Thao
9/6/2018 06:55:48 am
I really like the way they use visual to give example of free trade and raising high tax on other foreign countries.
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Carissa Kennedy
9/6/2018 08:46:14 pm
The rich end up staying rich because of all the goods that they have
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Macaylah Thompson
9/8/2018 03:38:47 pm
free trade has a good affect on the economy. its beneficial for many people
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Amanda Green
9/11/2018 01:11:54 pm
A balanced economy should include imports, exports, and jobs within the countries. Countries that try exceeding their production value will be unsuccessful due to them overextending their resources.Efficiency comes from cooperation and collaboration.
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Brandon Lee
9/11/2018 01:13:28 pm
It is good for countries to specialize in what they are good at so that they can excel in being a strong wealthy nation. But in order to do this they need to also rely on other countries around them.
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Rose Xiong
9/11/2018 01:13:38 pm
This video is great for us to watch and review because it connects to our topics in class and greatly explain in many ways how trade works for all low, middle, and high classes.
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Sarah Johnson
9/11/2018 01:17:23 pm
The wealthy are able to maintain wealth by selling controlled goods to the people at a higher price.
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Anthony Zamarripa
9/11/2018 01:19:27 pm
I see how the creator of the video was able to input comparative advantage into this large system of economy, and how he was able to explain it's complexity.
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Joshua Granados
9/11/2018 01:25:28 pm
The rich stay rich, increasing the prices of goods outside of our idea is unfair as some countries wouldn't be able to afford our prices. Each country has there own specialties that they can produce better than others and it's best to say they should stick to those goods.
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Destiny
9/11/2018 01:25:46 pm
Basically, the rich are able to control their wealth by selling goods/products at a greater price.
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raymond
9/11/2018 01:27:24 pm
he talks about how countries are more well suited to produce different products
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Desmick McElveen
9/11/2018 01:29:07 pm
Economic Autarky is the term to describe a strong country that knows how to provide for itself and could achieve total independence in trade
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Aliyah
10/15/2018 07:47:57 am
People need to do what they specialize in and trade with others which is more efficient other than trying to do it all themselves.
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