Match List I with List II.
List I
(A) Principle of Absolute Advantage
(B) Effects of factor endowment charges on trade
(C) Theory of reciprocal demand
(D) Factor price equalization theorem.
List II
(I) Rybczynski
(II) Samuelson
(III) Adam Smith
(IV) J. S. Mill.
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Theories of international trade has come up 151 times in 6 exams since 2006.
This question is on Absolute and comparative advantage, part of Theories of international trade in International Economics.
Why countries trade: producing more cheaply in absolute terms, or at lower opportunity cost.
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