Comparative advantage, Microeconomics

Assignment Help:

Comparative Advantage:A theory of international trade which originated with David Ricardo in early 19th Century and is maintained (in revised form) within neoclassical economics. Theory holds that a national economy would specialize through international trade in those products that it produces relatively most efficiently. Even if it produces those products less efficiently (in absolute terms) than its trading partner, it may still prosper through foreign trade. The theory relies on several strong assumptions - including an absence of international capital mobility, a supply-constrained economy.


Related Discussions:- Comparative advantage

Environmental effects of the use of robots in factories, A 1500 word resear...

A 1500 word research paper on the economic, social or environmental effects of the widespread use of robots in factories (this meets Learning Outcome 4)

Features of bureaucracy, Features of bureaucracy: Impersonal Order: ...

Features of bureaucracy: Impersonal Order: The authority is inherent in the post and not the individual who performs the official role. An official is supposed to have a det

What are the differentiated conditions of economic issue, What are the diff...

What are the differentiated conditions of economic issue? While discussing an economic issue, this is very important to differentiate between: (a) Two types of conditions: e

Define credit, Q. Define Credit? Credit:Ability to purchase something w...

Q. Define Credit? Credit:Ability to purchase something without immediately paying for it - through a credit card or bank loan, a mortgage or any other forms of credit. Creation

Demand, what are tne methots of demand forecasting ?

what are tne methots of demand forecasting ?

Communications - infrastructure, Communications: Noting the importance...

Communications: Noting the importance of improved communications in increasing productivity and welfare, the New Telecom Policy (NTP) was introduced in 1999. NTP 99 was aimed

Market structures, discuss the implications of various market structures(co...

discuss the implications of various market structures(competitive and non-competitive) for price determination

Role of money in a modern economic system, Normal 0 false fa...

Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4

Foreign exchange: what is hard currency, International economic relations a...

International economic relations also depend, in large calculate, on monetary =issues.  You are unlikely to accept the Turkish Lire in payment for your wages in this country, easil

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd