English language

How to pronounce coconuts in English?

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in this video I will show you how you
can use comparative advantage to see how
you gain from trade where you should
specialized in trade and how this fares
relative to a place where there's no
tree to show you that let's assume the
following example let's assume we have
two people Robinson Crusoe and Friday
that can choose of producing two goods
they can either gather coconuts or they
can catch fish and in terms of fish
let's assume it's salmon so it starts
with a different letter than Friday's
name let's assume that so we have Romans
on Crusoe and Friday and as we said we
have coconuts and we have salad now
let's assume that Robinson Crusoe can
gather coconuts at the speed of 15
minutes for one coconut so every 15
minutes he can gather one coconut at the
same time let's assume Friday's a little
bit slower than that and can only catch
one gather one in 20 minutes so Friday
is slightly slower than Robinson Crusoe
for salad let's assume Roman some
cruises a bit faster so every 10 minutes
he can catch a fish Friday instead is a
bit slower and only can get a fish or a
salmon every 30 minutes okay based on
this table we want now to figure out who
should specialize in what did I gain
from trade using comparative advantage
so if we're faced with a problem like
that we need to first see how much they
can produce at a fixed interval
for this fixed interval let's take a day
8-hours normal workday so let's see how
much they can produce in one day if you
look at Robinson Crusoe with coconuts
you can gather four coconuts in one hour
a day has eight hours so in total 32 per
day he's faster like catching fish doing
the same exercise he can catch 6 salmon
per hour there are eight hours six times
eight forty eight per day
Friday is a bit slower he can only do
two salmon per hour again eight hours so
sixteen per day that's but at least
looking at coconuts
that's three coconuts an hour eight
hours a day 24 coconuts per day okay
based on that let's now draw a
production possibility frontier okay so
we have two people we have Robinson
Crusoe and we have Frey and we have two
goods coconut and fish or salmon okay
we start with Robinson Crusoe and we
want to look what they can produce him
one day
so he gets Ida 32 coconut or 48 salmon
hmm okay now the question is how do we
get all the points in between well let's
assume he spends all day gathering
coconut then yes 32 let's assume he
spends one hour less gathering coconut
that means he gets four less he gets
only twenty-eight coconuts at the same
time he gets six salmon if he does have
for another hour he will lose another
four coconut and gain another sake salad
so it's a linear relationship and we can
just draw a straight line between those
two we can do the same thing for Friday
and he can get 24 coconuts or 16 fish
okay
now let's look at what the two could do
if they're on their own let's assume
they have to follow a preferences
Friday only likes fish so if he's on his
own he will produce 16 units of salmon
in turn let's assume Robinson Crusoe
only likes coconuts so he will produce
32 coconuts okay now if you want to talk
about trade we need to look at who
should specialize in what should they
both produce the same thing or not now
to find that out we use the opportunity
cost the easiest way to figure it out
who should produce what is we need to
figure out who has the lower opportunity
cost in producing a certain good let's
look at Robinson Crusoe producing
coconut for each coconut Robinson Crusoe
produces he gives up more than one
salmon Friday in turn for each coconut
he produces he gives up less than one
salmon
this means the opportunity costs for
Friday off producing coconuts is lower
than Robinson Crusoe's and so Friday
should gather coconut Robinson Crusoe in
turn should catch salmon we can do the
same thing in Reverse Robinson Crusoe
can catch one less salmon he's giving up
less than one coconut Friday in turn if
he catches one less fish gives up more
than one coconut so Amazon Crusoe should
specialize in salmon note that not
always one is larger than one the other
one is less than one it could be that
both are larger than one in that cases
really case whichever has the lower
opportunity cost that's the one that
you're specialized in it so the
opportunity cost here is three halves
which is strictly greater than two
thirds and so Friday should specialize
in coconut no matter if it's larger or
less than one okay let's think about
this more let's assume they're both
specialized okay they're friday fully
specializes he produces 24 coconuts and
gives them all to robinson crusoe
robinson crusoe produces only fish 48
salmon and gives all of them to Friday
is that something that they should do
well let's look at it
Robinson Crusoe ends up with 24 coconuts
that is less than he had initially at
the same time Friday used to have 16
salmon now yes 48 he did a really good
deal however Robinson Crusoe would say
no to this deal so because Robinson
Crusoe actually produces way more than
Friday horns and Crusoe cannot
specialize completely he needs to
produce still some coconuts otherwise he
will be worse off Friday on the other
hand produces less overall so he can
completely specialize so with trade
he'll produce 24 coconuts and gives all
of them to Robinson Crusoe now let's
assume Robinson Crusoe spends three
hours gathering coconuts to ensure he
gets more than 32 and spends the rest of
the time catching fish if he spends
three hours gathering coconuts he will
gather
four coconuts per hour three times for
twelve coconuts that leaves him with
five hours out of the eight and in these
five hours he will catch fish six fish
per hour so thirty fish in total thirty
salmon in total if we now compare Ronson
Crusoe doesn't care about salmon so
he'll give all the salmon to Friday
Friday an altar kick at sixteen salmon
now he has thirty Robinson Crusoe will
obtain all the coconuts Friday cop so
that's 24 plus all the ones he gathered
that's 12 24 plus 12 is 36 that's
strictly more than the 32 he initially
had so now both want to trade now as
long as Robinson Crusoe gathers at least
eight coconuts he'll be better off than
under our turkey and if he captures at
least 16 salmon Friday will be at least
as good off as an auto key catching
anything in between those two that is
the surplus from trade that can be
allocated any way how they do it that
depends on preferences and a lot of
other things but then we'll definitely
gain from trade or at least one party
will gain from trade the other one is
not worse off if these two were
countries one would say that Friday
produces coconuts and exports them at
the same time Robinson Crusoe produces
some fish which he exports he at the
same time imports coconuts as this
Friday import salmon
thank you for watching

in this video I will show you how you

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coconut::noun | Spocien Dictionary

coconut

noun

/'koʊkə,nət/

tall palm tree bearing coconuts as fruits; widely planted throughout the tropics

Type	Words
Synonyms	coco, coco palm, cocoa palm, coconut palm, coconut tree, cocos nucifera
Type of	palm, palm tree

coconut::noun | Spocien Dictionary

coconut

noun

/'koʊkə,nət/

large hard-shelled oval nut with a fibrous husk containing thick white meat surrounding a central cavity filled (when fresh) with fluid or milk

Type	Words
Synonyms	cocoanut
Type of	edible nut

coconut::noun | Spocien Dictionary

coconut

noun

/'koʊkə,nət/

the edible white meat of a coconut; often shredded for use in e.g. cakes and curries

Type	Words
Synonyms	coconut meat
Type of	solid food, food
Has types	copra

How to pronounce coconuts in English?

coconut::noun | Spocien Dictionary

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