Question

Which of the following is an assumption of Ricardian Theory of Trade? *

Labour is perfectly mobile between countries.

Labour is heterogenous within a country

Labour is perfectly immobile between the countries.

Labour and capital are the two factors of production considered.

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Answer 1

Answer:

Assumptions of the Theory:

The Ricardian doctrine of comparative advantage is based on the following assumptions: (1) There are only two countries, say A and B. (2) They produce the same two commodities, X and Y. ... (8) Commodities are produced under the law of constant costs or returns.

Explanation:

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Answer 2

Answer:

Labour and capital are the two factors of production considered.