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How Markets Work

5 Units   3H 45M
Parts
  • Introduction
  • The Price System
    • Lesson 1: The Invisible Hand
    • Lesson 2: Economic Choices
    • Lesson 3: Supply & Demand
  • Pre-Conditions for Wealth
    • Lesson 4: Property Rights
    • Lesson 5: Legal Institutions
    • Lesson 6: Virtue
  • The Entrepreneur
    • Lesson 7: The Entrepreneur
    • Lesson 8: The Knowledge Problem
    • Lesson 9: Spontaneous Order
  • Money
    • Lesson 10: The National Economy, Part 1
    • Lesson 11: The National Economy, Part 2
    • Lesson 12: Monetary Policy
  • Economic Growth
    • Lesson 13: Trade
    • Lesson 14: Poverty
    • Lesson 15: The Economic Future

Lesson 13 Lesson 13: Trade

Presented by: Dr. Daniel Hammond
Wake Forest University

Playlist

  1. The Propensity to Truck, Barter, and Exchange, Part 1
  2. The Propensity to Truck, Barter, and Exchange , Part 3

The Propensity to Truck, Barter, and Exchange

The foundation for economic growth is trade. People trade because they expect it to improve their well-being. However, trade can be costly, and barriers can thwart progress. In this lesson you will learn about the major benefits of trade, and about the obstacles to exchange countries often erect that reduce prosperity for all.

Lesson Thirteen Quiz

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HMW Lesson 13: Trade

Step 1 of 3

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People achieve higher incomes when they are free to trade with people in other countries.

James Gwartney, et.al

Learn More

h Video

The Propensity to Truck, Barter, and Exchange, Part 2, with Dr. Daniel Hammond

Play Now
h Video

The Principle of Comparative Advantage - 60 Second Adventures in Economics (The Open University)

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h Video

“Trade Is Made of Win," Part 1: Wealth Creation with Dr. Art Carden and Learn Liberty

Play Now
h PDF

James Gwartney et al., Common Sense Economics, pp. 84-103. (Textbook)

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How Markets Work

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