Ekonomi Internasional C 4 dan 5

Who is The founder of Absolute Advantage theory as a basis for trade?

• David Ricardo

• Adam Smith

Absolute advantage refers to a situation in which one country can produce a good or service more efficiently (using fewer resources or less labor) than another country.

• True

• False

the Key elements of Adam Smith's model of absolute advantage in international trade, include: Labor Productivity, Specialization, Mutual Gains and .......

• Divison labor

• Division income

Adam Smith theory of Absolute advantage has criticized .............

• Communism

• Capitalizm

• Mercantilism

Who is the Founder of comparative advantage theory?

• David Ricardo

• Adam Smith

• John Maynard Keynes

Ricardo introduced the theory of comparative advantage in his book?

• The Wealth of Nation

• Principles of Political Economy and Taxation

David Ricardo's theory of comparative advantage provides a more sophisticated explanation for the benefits of international trade than Adam Smith's absolute advantage.

• True

• False