comparative advantage
(redirected from Ricardo's Law)

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comparative advantage

Economic theory first advanced by Robert Torrens and David Ricardo that analyzes international trade in terms of differences in relative opportunity costs. The theory suggests that countries should specialize in the goods they can produce most efficiently rather than trying for self-sufficiency and argues strongly in favour of free international trade.

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comparative advantage (redirected from Ricardo's Law)

comparative advantage

comparative advantage
(redirected from Ricardo's Law)