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Ricardo's theory of trade is based on_ ratio). (A: productivity of labor; B: opportunity cost; C: capital labor

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Ricardo's theory of trade is based on
ratio).
(A: productivity of labor; B: opportunity cost; C: capital labor

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David Ricardo theory of international trade is landmark and it has refined the theory of Adam Smith. It explained cause of international trade in more rational manner which is relevant even today.

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