Question

The Theory of Ricardo of Comparitive advantage is related to From short Term​

Answer 1

Answer:

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Answer 2

Answer:

David Ricardo (1772–1823) was a classical economist best known for his theory on wages and profit, the labor theory of value, the theory of comparative advantage, and the theory of rents. David Ricardo and several other economists also simultaneously and independently discovered the law of diminishing marginal returns. His most well-known work is the "Principles of Political Economy and Taxation" (1817).

KEY TAKEAWAYS

David Ricardo was a classical economist who developed several key theories that remain influential in economics.

Ricardo was a successful investor and member of Parliament who took up writing about economics after retiring young on his fortunes.

Ricardo is best known for his theories of comparative advantage, economic rents, and the labor theory of value.

Understanding David Ricardo

Born in England in 1772, one of 17 children, David Ricardo began working with his father as a stockbroker at the age of 14. He was disowned by his father at 21, however, for marrying outside his religion. His wealth came from his success with a business he started that dealt government securities. He retired at the age of 41 after earning an estimated £1 million speculating on the outcome of the Battle of Waterloo.