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The theory of comparative advantage

  • From Economics, Macroeconomics
  • Due on 08 Jul, 2018 12:00:00
  • Asked On 07 Jul, 2018 06:40:13
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Cleary describe the benefits of this theory to a nations economy

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[Solved] theory of comparative advantage

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  • Submitted On 07 Jul, 2018 07:00:00
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Theory of Comparative Advantage Eighteenth-century economist David Ricardo created the theory of comparative advantage. He argued that a country boosts its economic growth the most by focusing on the industry in which it has the most substantial comparative advantage. For example, England was able to manufacture cheap cloth. Portugal had the right conditions to make cheap wine. Ricardo predicted that England would stop making wine a...
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