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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Answer:
The agricultural revolution was a prime time for farming. People chose areas with the ideal climate and weather patterns for farming. Knowing that, people flourished in flat, sunny, dry lands were crops were highly maintainable.
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527 committee is an organisation which primarily formed under section 527 revenue code of US.
Explanation:
527 committee is an organisation which primarily formed under section 527 revenue code of US.
A 527 community is developed mainly to impact national, local or state office candidates, selection, candidacy, election, assignment or defeat. These organisations are usually political parties, representatives, boards, or societies assembled to influence a national, state, or local problem, legislation, nomination, or election.
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India
What is certain is that India has changed remarkably in a number of ways in these 10 years. Some of these changes affect not just the country's 1.3 billion people – but the rest of the world too.
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