Question

Which sector was enphasised most by ricardo in the context of economic growth?

Answer 1

Agriculture sector was emphasised more by Ricardo in his theory of economic development.  Diminishing returns of land, labour, capital and other tools was the most important point in his economic growth theory.  He said that if continuous doses of labour, capital and tools are applied on the same agricultural land, the marginal productivity of the land will reduce in the future.  David Ricardo was a British economist compared as equal to Adam Smith, Thomas Maithus and James Mill.