AN EMPIRICAL TEST OF THE RICARDIAN MODEL

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The Ricardian model is a simple picture of international trade between nations ,which was created to show comparative advantage in producing goods and the gain from trade. The concept of comparative advantage was introduced by David Ricardo in 19th century. The country has comparative advantage in producing if it can produce at a lower cost than any other country .The Ricardian model has been developed on the following assumptions:

·        Only two countries are involved in activities

·        Only two goods can be produced

·        Labour is the only factor of production.

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APA

UFADEMHE, S (2019). AN EMPIRICAL TEST OF THE RICARDIAN MODEL. Afribary.com: Retrieved June 21, 2021, from https://afribary.com/works/an-emperical-test-of-the-ricardian-model-2-by-ufademhe-solomon

MLA 8th

SOLOMON, UFADEMHE. "AN EMPIRICAL TEST OF THE RICARDIAN MODEL" Afribary.com. Afribary.com, 22 Aug. 2019, https://afribary.com/works/an-emperical-test-of-the-ricardian-model-2-by-ufademhe-solomon . Accessed 21 Jun. 2021.

MLA7

SOLOMON, UFADEMHE. "AN EMPIRICAL TEST OF THE RICARDIAN MODEL". Afribary.com, Afribary.com, 22 Aug. 2019. Web. 21 Jun. 2021. < https://afribary.com/works/an-emperical-test-of-the-ricardian-model-2-by-ufademhe-solomon >.

Chicago

SOLOMON, UFADEMHE. "AN EMPIRICAL TEST OF THE RICARDIAN MODEL" Afribary.com (2019). Accessed June 21, 2021. https://afribary.com/works/an-emperical-test-of-the-ricardian-model-2-by-ufademhe-solomon