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18 July, 18:30

The primary explanation of trade among nations is ricardo's theory of:

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  1. 18 July, 20:38
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    Nations trade because of the comparative advantage that exists between them. That is, countries have different factor endowments and technological progress. As such, if a country can produce a certain good at a relatively lower autarky price or opportunity cost than other goods, better than other countries, it uses it to exchange for goods produced at better levels in other countries.
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