Core-007 Producer Behavior Introduction
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About Core-007 Producer Behavior Introduction
About the Teacher
Jay Moulton
Jay Moulton is a business veteran. In short:
- Corporate finance and turnaround expert in U.S. and Canada
- CEO or operator of numerous companies in many industries
- 30 years of actually applying business economics principles
- Successfully led and invested in several leveraged buyouts
- Director or advisor to 30+ different companies
- Experience in both for-profit and not-for-profit sectors
- Producer of 700 professional videos and several TV shows
- Author of six economics and business strategy books
- Graduate of Harvard Business School MBA program
- Graduate of The Royal Military College of Canada
- Professional electrical engineer
- Governor of the Harvard Club of British Columbia
Producer Behavior Introduction
MODULE 1
Economics is the study of how individuals make choices in a world of scarcity. The things we want and desire are limitless. The resources that we need – the natural resources, labor, capital and entrepreneurial talent – are limited.
Comparative Advantage and International
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The video explains the concept of comparative advantage as the basis of international trade and differentiates it from absolute advantage.
Comparing Tiger Woods' lawn mowing skills with those of Professor Brock.
Production Possibility Frontier
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The production of apples and iron ore pellets in Michigan's Upper Peninsula is used, as an example, to demonstrate how economic resources are allocated.
The production possibility frontier allows you to see all the possibilities for production. Take the Upper Peninsula of Michigan and compare the production of apples to the production of iron ore.
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