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Comparative cost theory was propounded by economist David Ricardo in the early 19th century. This theory explains how countries can benefit from trade by specializing in the production of goods for which they have a comparative advantage, meaning they can produce those goods at a lower opportunity cost than other countries. Ricardo's insights laid the groundwork for modern trade theory and the understanding of international trade dynamics.
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Who propounded the comparative cost theory?
The comparative cost theory was propounded by the economist David Ricardo in the early 19th century. This theory explains how countries can benefit from trade by specializing in the production of goods for which they have a lower opportunity cost compared to other nations. Ricardo's ideas laid the groundwork for modern international trade theory, emphasizing the advantages of trade even when one nation is less efficient in producing all goods.
Explain Theory of absolute cost advantage by propounded by Adam smith?
explain theory of absolute cost advantage as propounded by Adam smith
Who had propounded the 'wealth theory of demand for money'?
Milton Friedman propounded the Wealth Theory of Demand for Money. It is also known as Restatement of Quantity Theory of money.
Who propounded the innovation theory of profits?
The Innovation Theory of Profit has been propounded by: F.H. Knights Keynes F.B. Hawley Kent Joesph Schumpeter.
Difference between absolute cost advantage theory and comparative cost advantage theory?
absolute cost advantage talks about the efficiency and cheaply a country incure in the production of goods and services against other country whiles comparative advantage talks about the opotunity cost of goods
Who propounded the comparative cost theory?
The comparative cost theory was propounded by the economist David Ricardo in the early 19th century. This theory explains how countries can benefit from trade by specializing in the production of goods for which they have a lower opportunity cost compared to other nations. Ricardo's ideas laid the groundwork for modern international trade theory, emphasizing the advantages of trade even when one nation is less efficient in producing all goods.
Explain Theory of absolute cost advantage by propounded by Adam smith?
explain theory of absolute cost advantage as propounded by Adam smith
Who propounded Saptanga theory?
kautiliya propounded saptang theory
Who propounded the Saptanga Theory?
kautilya
Who propounded the cell theory?
darvin
Who propounded the theory of zero?
aryabhatta
Who had propounded the 'wealth theory of demand for money'?
Milton Friedman propounded the Wealth Theory of Demand for Money. It is also known as Restatement of Quantity Theory of money.
Who propounded theory of multiple intelligence?
thorndike
Who propounded the theory of gravitation?
Isaac newton
Who propounded the innovation theory of profits?
The Innovation Theory of Profit has been propounded by: F.H. Knights Keynes F.B. Hawley Kent Joesph Schumpeter.
What is Entailment theory of causality?
It is the empirical theory of Causality as propounded by hume.
Who propounded marginal productivity theory of distribution?
TAUSSIG
