Question

according to ricardo,international trade is beneficial under​

Answer 1

Answer:

The correct answer is the comparative advantage theory.

Explanation:

• David Ricardo was a classical economist who produced a number of important theories that are being used today.
• After retiring from his fortune at an early age, Ricardo, a successful investor and member of Parliament, started writing about economics.
• For his views on comparative advantage, economic rents, and the labor theory of value, Ricardo is well known.
• According to Ricardo's renowned comparative advantage theory, countries can benefit from a trade advantage by concentrating on producing items that have the lowest opportunity costs when compared to those of other countries.
• The worth of a good, according to Ricardo, is defined by the number of labor hours used to produce it.

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