Ricardo explained the law of comparative advantage on the basis of-

CA Foundation · Business Economics · MTP · September 2024
Ricardo explained the law of comparative advantage on the basis of-
(A) A. Economies of scale
(B) B. The labour theory of value
(C) C. Opportunity costs
(D) D. None of these

Suggested Answer and Working Notes:

Correct Answer: Option (B)

B. The labour theory of value

Topics: International Trade

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