5 ECONOMIC Mistakes NEW PLAYERS Make in Victoria 3

Summary

In this Victoria 3 tutorial, the focus is on common economic misconceptions among new players. The video clarifies that a negative balance sheet is often desirable for major powers, as it stimulates the economy and construction, akin to GDP growth. It challenges the conventional wisdom of maximizing revenue and minimizing expenses, emphasizing the importance of targeted taxes and spending to influence economic growth. The tutorial also advises against overbuilding in agriculture due to its impact on investment pools and suggests prioritizing industries that contribute more to these pools. Additionally, it discusses the strategic use of trade routes, advocating for exporting goods that align with one's economic goals rather than simply chasing high productivity.

Takeaways

• 😀 New players often misunderstand the economic mechanics in Victoria 3, especially the balance sheet, where a negative balance might be desirable for major powers to stimulate the economy.
• 💼 Construction is crucial in Victoria 3 as it represents GDP growth rate, and players should focus on expanding their economy through building more structures.
• 💰 Players should not solely aim to maximize revenue and minimize expenses; instead, they should consider the broader economic impact, including the construction rate and GDP.
• 🏛️ The ownership of buildings significantly affects the investment pool, with capitalists contributing more than other pop types, so players should aim for more capitalist-owned buildings.
• 🌾 Overbuilding agriculture early in the game is a common mistake as it leads to less contribution to the investment pool, despite it being profitable.
• 🏭 Players should not always build the most expensive goods in the market; they should consider the impact on the investment pool and the type of ownership.
• 🔗 Tariffs can be counterproductive as they can disrupt the economy by making certain goods more expensive and less profitable, which can affect the investment pool negatively.
• 🌐 The goal is not to make all goods cheap but to strategically manage the economy to make some goods cheap and others expensive, aligning with the country's production capabilities.
• 🚢 Productivity of trade routes is not the only factor to consider; the type of ownership and the strategic economic impact are more important for long-term economic planning.
• 🌟 New players should focus on understanding the economic intricacies of Victoria 3, moving beyond intuitive assumptions from other strategy games, to effectively manage their nation's economy.

Q & A

What is the primary focus of the video?

The video is a tutorial focusing on five common economic mistakes that newer players make in Victoria 3, a strategy game.

Why is construction emphasized as important in Victoria 3?

Construction is highlighted as it represents GDP growth rate, and expanding the economy is primarily done through building more structures.

What is the counterintuitive aspect of the balance sheet in Victoria 3?

In Victoria 3, especially for major or great powers, it's often beneficial to have a negative balance, running loans and a large line of credit, contrary to conventional wisdom which suggests a positive balance.

Why might a player not want to maximize National Revenue in Victoria 3?

Maximizing National Revenue isn't always ideal because extracting more in taxes can decrease GDP by taking money out of the economy that could be used for consumption and investment.

How does the ownership of a building affect the investment pool in Victoria 3?

Different pop types contribute varying percentages of their income to the investment pool. For instance, capitalists contribute 20%, which is why having more capitalist-owned buildings is beneficial.

What is a common mistake players make regarding building types in the early game?

Newer players often build too much agriculture early on, which is a mistake because it creates aristocrats that contribute less to the investment pool, impacting the economy negatively.

Why might a player not want to build a profitable building in Victoria 3?

A player might avoid building a profitable structure if it leads to the creation of less desirable pop types or if it doesn't align with their overall economic strategy, such as focusing on capitalist-owned buildings.

How does the price of goods in the market influence the economy in Victoria 3?

The price of goods affects the profitability of buildings. High prices can make buildings more profitable, contributing more to the investment pool, while low prices can lead to unprofitable buildings.

What is the impact of tariffs on the economy in Victoria 3?

Tariffs can be detrimental as they can increase the price of goods, making certain buildings less profitable and encouraging the auto queue to build less desirable pop type-owned buildings.

Why should productivity not be the primary focus when deciding on trade routes in Victoria 3?

Productivity is important, but the type of pop ownership of the buildings is more crucial. Exporting goods owned by capitalists and importing goods owned by aristocrats is a better strategy than just chasing high productivity.

Outlines

00:00

📈 Understanding Economic Misconceptions in Victoria 3

This paragraph introduces the tutorial's focus on common economic misconceptions among new Victoria 3 players. It emphasizes that while construction is crucial for economic growth, represented by GDP, the tutorial will delve into less intuitive aspects. The speaker clarifies that a positive balance sheet isn't always ideal, especially for major powers, and that National Revenue isn't the sole focus. Instead, players should consider the construction rate and GDP alongside the balance sheet. The tutorial aims to correct the instinctive approach to economics in the game, suggesting that a negative balance might be desirable to stimulate the economy and increase GDP.

05:01

🏛️ Balancing Economy and Construction in Victoria 3

Paragraph 2 discusses the intricacies of managing the economy in Victoria 3, particularly the balance between extracting and injecting money. It explains that increasing taxes extracts money from the economy, which can suppress economic activity, while spending can stimulate it. The speaker advises players to think strategically about where to extract and inject money, targeting the upper strata of society for revenue extraction. The paragraph also touches on the importance of construction as a GDP growth indicator and how managing taxes and construction can influence the economy more effectively than just focusing on the balance sheet.

10:03

🌾 The Pitfalls of Building Agriculture and Ownership Dynamics

This paragraph highlights the importance of building ownership in Victoria 3. It points out that new players often mistakenly focus on constructing buildings that are profitable in the short term, such as agriculture, without considering the long-term impact on the investment pool. The speaker explains that different pop types contribute varying amounts to the investment pool, with capitalists being the most beneficial. Therefore, the tutorial advises against overbuilding in agriculture early in the game and suggests focusing on industries that increase the investment pool and contribute to GDP, such as construction-related industries.

15:05

🛍️ Market Prices and the Strategy of Building Ownership

Paragraph 4 addresses the common mistake of new players building based solely on market prices. It explains that while market prices can guide building decisions, they should be balanced with considerations of building ownership. The speaker argues that it's not always beneficial to build the most expensive goods, as ownership types and their contributions to the investment pool are crucial. The paragraph also discusses the importance of managing the price of goods to ensure profitability, especially for goods that are predominantly produced domestically. The tutorial suggests that players should aim for a balance where some goods are cheap to import, and others are kept expensive to maintain profitability and stimulate the economy.

Keywords

💡Economics

Economics is a social science that studies the production, distribution, and consumption of goods and services. In the context of the video, economics is central to understanding the game mechanics of Victoria 3, particularly how players manage their in-game economy to achieve growth and development. The video discusses various economic concepts such as balance sheets, GDP, and tariffs, which are crucial for players to master to succeed in the game.

💡Balance Sheet

A balance sheet is a financial statement that records a company or country's financial position, including assets, liabilities, and equity at a specific point in time. In the video, the balance sheet is discussed as a tool for players to monitor their economic health in Victoria 3. However, the video suggests that unlike conventional wisdom, in the game, players often aim for a negative balance sheet to stimulate the economy by taking loans and investing in construction.

💡GDP (Gross Domestic Product)

GDP is a measure of a country's economic output and is often used as an indicator of a nation's overall economic health. In the video, the presenter likens the game's construction rate to GDP growth rate, emphasizing the importance of construction for economic expansion. Understanding and managing GDP is key to the game's economic strategy.

💡Construction

Construction in the game refers to the building of infrastructure and facilities, which is analogous to economic development. The video highlights construction as a critical aspect of the game's economy, equating it to GDP growth. Players are advised to focus on construction to expand their economy and improve their in-game nation's capabilities.

💡Taxes

Taxes are compulsory financial charges levied by a government on workers and businesses to fund public expenditures. In the video, taxes are discussed as a tool to extract money from the economy. The presenter explains that increasing taxes can suppress the economy by taking money out of circulation, while decreasing taxes can stimulate it by allowing more money to be spent on goods and services.

💡Investment Pool

The investment pool in Victoria 3 refers to the funds available for investment in new buildings and infrastructure. The video explains that different pop types (like shopkeepers, farmers, aristocrats, and capitalists) contribute different percentages of their income to this pool. The presenter advises players to aim for a higher proportion of capitalists in their economy to increase the investment pool and, consequently, the in-game nation's growth.

💡Ownership

Ownership in the context of Victoria 3 refers to which social class owns the means of production, such as factories and farms. The video emphasizes that the ownership of buildings affects the investment pool and the economy's growth. Players are encouraged to focus on building types that are owned by capitalists, as they contribute more to the investment pool, which is vital for economic expansion.

💡Market Tab

The market tab in Victoria 3 is a game interface where players can view and manage the economy's supply and demand for various goods. The video script mentions that new players often use the market tab to decide what to build based on the prices of goods. However, the presenter advises that players should also consider the ownership of buildings and the overall economic strategy, not just the current market prices.

💡Tariffs

Tariffs are taxes imposed on imported or exported goods and services. In the video, tariffs are discussed as a potential strategy in the game, but the presenter cautions that they can have negative effects on the economy by altering the price equilibrium and potentially reducing the profitability of certain buildings. The video suggests that new players should be cautious with tariffs and consider their broader economic impact.

💡Trade Routes

Trade routes in Victoria 3 represent the economic connections between different regions or countries, allowing for the exchange of goods. The video script explains that while productivity is a factor in choosing trade routes, the ownership type of the buildings and the overall economic strategy are more important. Players should prioritize exporting goods that are owned by capitalists and importing goods that are owned by aristocrats to align with their economic goals.

💡Productivity

Productivity in the context of Victoria 3 refers to the efficiency with which goods are produced and traded. The video discusses how new players might focus on maximizing productivity in their trade routes, but the presenter argues that this should not be the primary goal. Instead, players should consider how trade routes align with their broader economic strategy, such as promoting certain pop types and managing the price of goods.

Highlights

Construction is crucial in Victoria 3 as it represents GDP growth rate.

New players often misunderstand the balance sheet's role in Victoria 3's economy.

Major or great powers may want to run a negative balance to stimulate the economy.

National Revenue isn't always about maximizing income; it's about economic stimulation.

Taxes extract money from the economy, which can impact GDP.

Construction rate is a key indicator of economic growth.

Taxation strategies should target revenue extraction from the upper strata of society.

Building too much agriculture in the early game can hinder economic growth due to lower investment pool contributions.

Ownership of buildings affects the investment pool and should be considered when deciding what to build.

Market prices are a decent heuristic for deciding what to build, but not the only factor.

Dual output buildings can provide misleading signals about profitability.

The goal is not to make all goods cheap, but to manage the economy for targeted profitability.

Tariffs can have negative effects on the economy by disrupting the balance of capitalist-owned buildings.

Productivity of trade routes is not the primary concern; building ownership types are more important.

Exporting goods owned by capitalists and importing goods owned by aristocrats is a strategic move.

The tutorial concludes with a summary of the five economic mistakes new players make in Victoria 3.

Transcripts

hello and welcome back today we will be

continuing our Victoria 3 tutorial

series and this episode we'll be talking

about five things that newer players get

wrong about economics I just want to

emphasize that this is a sort of list of

things that are not intuitive not

necessarily the five most important

things to know an example of what I'm

talking about is construction is

probably the most important thing to

emphasize and be aware of but I think uh

someone who plays a lot of other

strategy games will be able to very

quickly identify that construction is

important to Victoria 3 because your

primary point of interaction is uh

building more buildings and so if you

can build more buildings and then you

can expand your economy more and you can

think of construction as your GDP growth

rate and GDP is an extremely important

number and so I think that this is

something that's easy and quick to

identify the five things we're going to

be talking about are going to be things

that are a lot harder to identify or

will be counter-intuitive specifically

in the realm of Economics so the first

thing we're going to talk about is

probably what newer players first look

at when they're trying to figure out

okay what's going on here economically

and that is the balance sheet you know

conventional wisdom would indicate you

want a positive balance and you also

want to maximize Revenue while

minimizing expenses uh and this is not

the case in Victoria three in fact

sometimes you or very often if you are a

major or great power you actually want

to have a negative balance and you want

to be taking loans running a huge line

of credit and also you do not

necessarily even always want to maximize

National Revenue now there are two

better things to look at or two things

you need to look at in uh together along

with the balance and that is your

construction rate which you can think of

as your GDP growth rate and your GDP

itself and so coming back to this um

balance figure it's that it's important

to think of it not hey we're just trying

to maximize how much money we're making

it minimize how much money we're losing

but look at it from the perspective of

you are taking money from the economy

every time you extract anything in terms

of Revenue with the exception of tariffs

you are extracting money from your own

economy so that money is not going into

the being paid for for goods it's just

sitting there into your gold Reserve so

for what I mean by this is uh if more

money was into the economy if we were

taxing people less they would buy more

clothes for example and this would

increase the profitability of our

textile mills and this increased

profitability because there's an

increase in price of clothes would drive

up GDP so when we take a bigger tax rate

or we tax anything we are driving down

GDP in a sense because we are taking

money out of the economy similarly when

you spend extra you stimulate the

economy and you raise GDP and also you

can think of you know construction as

your GDP growth rate so coming back to

kind of thinking about uh National

Revenue a healthier way to think about

it it's still a very important thing

your balance is still important to pay

attention to but it's not the be all

end-all and instead you should think of

it uh do I want to be extracting my

money for my economy right now or do I

want to be injecting money into the

economy and if you want to be injecting

money into the economy you actually want

to run a negative balance if you are

recognized the reason why you do not

want to run one run one if you are not

recognized is because uh the interest

rates are really prohibitive as

unrecognized powers or particularly

smaller Powers but you definitely don't

want to have an enormous gold Reserve

most of the time unless you are

preparing an action where you know you

are going to run a deep deep deficit and

you want to avoid default

um also you want to avoid going into

negative if you are unrecognized because

the interest rate is not going to be

sustainable and it will crush you but

other than that balance is not

necessarily something you even want

positive often you want it negative

which is not intuitive uh you know for

the beginner player to add on to this

balanced discussion it's important to

briefly cover taxes whenever you are

increasing taxes you are going to be you

know increasing the amount of money

you're extracting from the economy which

will depend press the economy but the

way you want to think about it is I want

to inject money into the economy in a

particular way and I want to extract

money from the economy in a particular

way and so this is how you want to think

about managing this it's not about

maximizing your revenue and minimizing

your expenses it's by having targeted

revenue and targeted expenses without

going into too much detail you generally

would prefer to extract money from the

upper strata and so one way you could do

that is if you are specifically taxing

stuff that they are consuming a lot of

like services and luxury items you can

Target uh the extraction on the upper

strata and you can do this for example

with consumption taxes and then bringing

up the uh the taxes from the consumption

you can gain more Revenue now you don't

want to be running a huge positive

balance but one way you can inject money

back in is by advancing your

construction and by blowing out

construction really really large and so

what will often be the strategy early on

will be to maximize taxes specifically

focusing them as much on the higher

strata as possible and look to just send

construction into the stratosphere and

so this is kind of the the balance is

important but it's more important to

think of uh not this raw score of

balance but how you are you know

injecting money or extracting money from

the economy uh specifically increasing

the investment pool is particularly

strong in the early game which the early

game is much much longer if you are a

newer player and you can't get over like

1.2 billion GDP the next two mistakes

that newer players tend to make both

have to do with ownership of a building

now ownership is particularly important

because it affects the investment pool

transfer whenever a building has a

positive balance a certain percentage of

that will be contributed to the

investment pool about the investment

pool in reinvestment now different pop

types will contribute different amounts

to that investment pool in particular

shopkeepers and farmers will contribute

five percent of their income Aristocrats

will contribute to 10 percent of their

income and capitalists will contribute

20 of the income this is important

because it means that you generally want

to have a lot of capitalists and so one

of the major mistakes that a lot of

players make that are newer is they

actually build a lot of Agriculture and

in the early game

um you know once you get later

agriculture becomes okay but in

particular in the older early game you

do not want to build a lot of

Agriculture because it has a lot of

aristocrats which contribute less to the

investment pool which is a huge source

of your income in the early game

remembering that you know we would like

to extract money from the upper strata

this is a way of extracting money from

the upper strata that targets the upper

status specifically because these are

the owners of all the buildings and so

you would rather extract more from them

in particular and so not only is it a

good source of income you in particular

want to be extracting a lot from this

class and so you don't want to build any

agriculture as a result of this or you

want to avoid it as much as you can also

if you are playing on a relatively

backward country it is extremely

important to as a result of the

ownership to research the lathes

technology or any the other technology

that unlocks a production method like

leaded glass which allows you to switch

from being a shopkeeper owned to being

capitalist owned so for example if we

bump back to hand sewn clothes we will

see that the merchant guilds are now

shopkeepers and these only contribute

five percent of their uh dividends or of

the weekly balance to the investment

pool rather than capitalist which will

contribute to 20 to the investment pool

and so the second mistake is uh building

a lot of agriculture even if it's really

profitable because you will not get as

much into the investment pool even if

the buildings are making a lot of money

the third mistake players make is they

will in order to decide what they want

to build is they'll go into the market

tab they'll look in the market and they

will build stuff uh the sorts of things

that are the most expensive things in

their market and they will not build any

of the stuff that's really cheap and

it's important to emphasize this is

actually a decent heuristic for deciding

what to build but you have to on top of

this can consider ownership in

particular and you don't always want to

build the most expensive good

for example tobacco here while it's

really expensive is Aristocrat owned and

we would prefer not to build tobacco we

would want to build a lot of iron

specifically because iron is used in

construction and so it'll make

construction cheaper it's a lot to

unpack how everything's related but in

general you want to build a lot of stuff

related to making construction cheaper

in particular in the early game and you

do not want to build any agricultural

buildings even if it looks really

profitable another further example of

not always wanting to build stuff just

because it's profitable is if we look in

the market for example and see that

luxury clothes are really expensive but

regular clothes are really cheap if we

come and talk look at take a look at

textile mills you can reach a certain

situation where buildings that have dual

outputs like textile mills will have

have extremely cheap of one thing and

extremely expensive as the other such

that they actually aren't all that

profitable and so you can get an

improper signal in when it comes to

Goods that have dual tracks or dual

outputs so for example the groceries or

the croissants or the sausages in

particular will have there's multiple

things coming out of the Grocers like

liquor and these other sorts of stuff

that can help depress the profitability

but generally looking in here it gives

you a good idea of what's going to be

profitable and what would be good to

build but you have to Overlay it with

like the understanding that ownership is

important and dual track

um you know buildings is important in

particular Fine Arts almost never worth

building even if it's really expensive

or never in the early game and so it's

not the case that you want to just

simply build all of these even though

usually that's a relatively good

heuristic just building what's most

expensive it is not always good and you

need to consider other things on top of

that now a secondary a part of this

mistake is the idea that in the end what

we are aiming for is to have every good

be as cheap as possible which uh is the

case in a lot of other games but is not

the case in Victoria three and so even

though we might be building the stuff

that's the most expensive and be pushing

the price down the reason we're building

the stuff that's most expensive like the

iron mines for example is because these

will be very very profitable they'll

have a really high balance because the

good is expensive we're not building it

because we're trying to reduce the price

we're building it because the weekly we

know that the weekly balance of the

building is going to be high it's going

to be positive this weekly balance will

transfer into investment pool transfer

it'll also be able to employ more Pops

it'll increase to the GDP which is the

total output of the goods no if all the

goods in your Market are cheap none of

your buildings will be profitable and so

it is bad to have everything be cheap

and generally speaking you can achieve

everything being cheap if you have

really really low government spending

which is indicates that you need to

inject act more money into the economy

so the goal is really not to get stuff

cheap instead it's to get some Goods

cheap and other Goods you want to keep

expensive which informs the overall

trading strategy now we're not going to

delve into that too too deep but just

imagine here we're taking a look at this

textile mill and imagine the price of

these are really really low right this

means that the balance is equal to the

revenue minus the expenses if we the

price of these is really low the revenue

will go to like basically zero right or

let's say it's only 12K suddenly this

building's not profitable and so it's

not going to increase investment pool

transfer

um you know or any of these other things

and so profitability is important and

profitability is driven by the price of

goods being high and so instead with the

way you want to think about it is you

want the price of the goods which you

have a higher proportion of your own

orders being built and by that I mean

you're not importing it so for example

if we're importing most of our tobacco

we want our tobacco to be as cheap as

possible right if we're building all of

our iron we actually want our iron to be

relatively expensive with some asterisks

all right if we're building all of our

groceries we want those to be expensive

because it means the buildings will be

more profitable and so you want to

depress the price of goods that are

disproportionately you are

disproportionately uh building less of

yourself and you want to increase the

price of stuff that you were

disproportionately building more of if

we were the only uh builder of groceries

for example we would want this price to

be Sky High because that would make

exports of the good extremely profitable

so this sort of brings us to mistake

number four which is trying to extract

money from the economy via tariffs if

you think about what we just discussed

in terms of pushing prices up and down

whenever we tariff for example if we

tariff on our import of fabric knowing

that we want to import fabric because it

is owned by aristocrats the buildings

that produce fabric if we tariff this

this means we're going to import less of

it and instead the equilibrium price

will be a little bit uh higher because

we are tariffing it we are making the

import less efficient and so less comes

in what this means is that first of all

all buildings that use the fabric as an

input will be less profitable because

their inputs are more expensive but

second of all this means that it will be

because the price is higher it will make

our Auto queue uh be more profitable and

more prone to building stuff that you

know will build out Fabric and build

fabric itself which will include the

aristocrats which is again not what we

want because we want to be capitalist

oriented so when we tear a fabric we

hurt ourselves in two ways right we are

making the capitalist owned buildings

that use fabric as an input less

profitable and we are encouraging the

auto queue to build more aristocratic

owned buildings second of all we might

be exported clothes right and uh

generally speaking we want the price of

clothes to be high if it is

disproportionately overrepresented in

our economy in terms of our buildings if

we tariff it that means fewer clothes

will go out we will skim the Tariff

right but then the price of these

clothes will not be as high AI so we

won't be able to support uh building you

know as many textile mills before they

become unprofitable and when you really

want to build a lot because you're

seeking to get throughput that much is

fairly obvious but this can help us do

this and so tariffs just hurts you on

all fronts in regard to how you want to

massage the economy it's not that you

just don't want money it's that you want

to get money in a particular way and

this particular way it does not evolve

using tariffs as a primary means and so

you should not as a new player Chase

tariffs in fact on almost everything uh

you know if you are importing it you

actually want to you know let's say we

want to import sugar we're going to put

an import route to the Egyptian Market

we would actually want to eliminate the

import tariff on the sugar that way we

can bring more in and so if you're

extracting tariffs this is actually

generally a Bad Thing The Only Exception

is is if there are certain Goods in your

Market you are trying to protect in

particular in the late game this can

become a strategy but uh other than that

it's not even then it's not about

extracting money through 10 it's about

preventing other countries from being

able to import your goods although

generally protectionism is not a good

strategy I want to emphasize that it's

kind of just a late game sort of thing

we've switched to England to talk about

the last mistake which is having

productivity of your trade routes be the

primary thing that is important to you

when deciding this is a mistake uh when

deciding what trade routes to make just

looking at productivity and trying to

get the most productive trade routes now

productivity is important but the

overall strategy of wanting buildings

owned by a particular pop type is more

important than the productivity itself

and so if we were to take a look at the

idea of exporting rain we could export

it at a relatively High productivity or

exporting tools let's say which would

actually have a negative productivity to

the Spanish Market it would actually be

preferable for us to export the tools

and the reason why is because this will

affect the types of buildings that can

be built in Great Britain and it will

affect the types of buildings that will

be built by the automatic q and still be

able to be profitable if we export tools

to Great Britain this product or sorry

into the Spanish Market this will be a

negative trade route and this wouldn't

be the first choice right we would

definitely want to go to Westphalia

first but if we export it to Spain uh

this would make it so that our uh

tooling workshops would be more

profitable right and so let's find a

tooling Workshop here our tooling

workshops would be more profitable the

weekly balance would be higher if we

were to export grain we would experience

the same thing in particular with all of

our Rye Farms except we don't really

want our rifle arms to be profitable we

would rather our tooling workshops be

profitable because the ownership type

matters it's not that we want to ride

workshops to be trash but we would

rather let our pops uh let's say it's a

it's a matter of how you are extracting

money we would rather let our Pops our

specifically our poor pops just consume

the grain rather than export it for some

productivity right we don't want to

extract money in that way that is not

the more efficient way of extracting

money instead we would rather inject

money by not running a productive trade

route and getting money from the

productivity of the building and the

owners of the building paying to us and

like this sort of stuff this is not our

preferred way of extracting money we

would rather let our Pops eat the Grain

and we would rather try and extract

specifically on the wealthier pops and

so for example exporting luxury uh you

know furniture and this sort of stuff is

super super okay because we are not

concerned as much about keeping the Sol

of these pops high but returning to like

the overall strategy you want to export

all of your or the only things that you

are exporting you want to be owned by

capitalists as far as importing goes you

want to import all the stuff that's

owned by Aristocrats and also

specifically resources can be good to

import for a variety of reasons that are

beyond the scope of this video but other

than that that's your general strategy

and this strategy is more important than

chasing some productivity you know

chasing some tail in the Spanish Market

sorry that's our import trade route our

export trade route here it would not be

worth it to seek this productivity even

though it is productive

um you know just on terms of this

it will make the Trade Center make more

money it will do these sorts of things

uh but this is not a good way to

evaluate it it's about thinking of your

total holistic strategy of pursuing

buildings and ownings of a particular

kind and also getting greater

specialization because when you export

if you're producing a lot of clothes and

you export clothes we can build these

tool clothing things up higher which we

can get more economies of scale bonus

from specifically we need to research

another tech here in Great Britain so

that's not the best example but it is

the idea so that was the tutorial on

five mistakes that newer players make in

regards to economics in Victoria 3

mainly kind of focusing on stuff when

they're coming from a different game if

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