<span>Monopolies affected small businesses by forcing them to shut down. A small business cannot compete with large companies, especially their ability to buy goods in bulk. When a company buys goods in bulk, it is able to negotiate a better price. Small businesses cannot do this because they don't have access to as much capital as large businesses do. The Gilded age lasted from 1870 to 1900. It was a volatile time in the history of America. The Industrial Revolution had spread offering opportunities for many people to make a lot of money but, at the same time left many farmers and workers struggling for survival.</span>
The theory of comparative advantage is credited to David Ricardo.
<h3>What is Ricardo's theory of comparative advantage?</h3>
In economics, a comparative advantage occurs when a country can produce a good or service at a lower opportunity cost than another country.
The theory of comparative advantage is attributed to political economist David Ricardo, who wrote the book Principles of Political Economy and Taxation (1817).
Comparative advantage is a key principle in international trade and forms the basis of why free trade is beneficial to countries.
Eg; Consider two countries (China and the UAE) that use labor as an input to produce two goods: wine and cloth.
In China, one hour of a worker’s labor can produce either 5 cloths or 10 wines.
In the UAE, one hour of a worker’s labor can produce either 20 cloths or 15 wines.
The UAE enjoys an absolute advantage in the production of cloth and wine.
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It looks like Julius Caeser so yes rome.
