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Dafna1 [17]
2 years ago
9

British economist David Ricardo argued that states should trade based on their _____, whereby each state produces and exports th

ose products that it can produce most efficiently relative to other states.
Business
1 answer:
kkurt [141]2 years ago
6 0

British economist David Ricardo argued that states should trade based on their comparative advantage, whereby each state produces and exports those products that it can produce most efficiently relative to other states.

Along with Robert Malthus, Adam Smith, James Mill, and other notable classical economists, David Ricardo was a British political economist. He was also a politician and a member of the British and Irish Parliament.

According to Ricardo's renowned comparative advantage theory, countries can benefit from a trade advantage by concentrating on producing items that have the lowest opportunity costs when compared to those of other countries.

Learn more about comparative advantage theory here brainly.com/question/14280090

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Answer:

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Explanation:

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<h3><u>Explanation:</u></h3>

There are three important terms associated with the supply chain management. They are distributors, suppliers and wholesalers. Distributors are those who are directly related with the manufacturers and they represent the manufacturers in some way. Distributors have buying agreements that includes only certain number of members and also they usually cover certain specific areas.

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3 years ago
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