explain theory of absolute cost advantage as propounded by Adam smith
Milton Friedman propounded the Wealth Theory of Demand for Money. It is also known as Restatement of Quantity Theory of money.
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
The Innovation Theory of Profit has been propounded by: F.H. Knights Keynes F.B. Hawley Kent Joesph Schumpeter.
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.
Dadabhai naoroji...
kautiliya propounded saptang theory
darvin
kautilya
aryabhatta
Milton Friedman propounded the Wealth Theory of Demand for Money. It is also known as Restatement of Quantity Theory of money.
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
Isaac newton
thorndike
The Innovation Theory of Profit has been propounded by: F.H. Knights Keynes F.B. Hawley Kent Joesph Schumpeter.
It is the empirical theory of Causality as propounded by hume.
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.
Elton Mayo