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According to David Ricardo's principle of comparative advantage, there will be gains from international trade

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According to David Ricardo's principle of comparative advantage, there will be gains from international trade

According to David Ricardo's principle of comparative advantage, there will be gains from international trade

▸ by any trading country with opportunity costs similar to other countries.

▸ by any country with opportunity costs different from other countries.

▸ by only one country if opportunity costs are identical across countries.

▸ only by a country with an absolute advantage in the production of some commodity.

▸ only by developed countries.

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Microeconomics

Edition: 17^th

Author: Ragan

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