Multiple Choice
According to Adam Smith, free trade is the result of
A) Division of labour and specialisation both at the national and international level
B) Specialisation only at the national level
C) Division of labour and specialisation at the national level only
D) Division of labour only at the international level
Correct Answer:
Verified
Correct Answer:
Verified
Q15: According to Adam Smith, diversification of labour
Q16: Adam Smith favoured<br>A)Free trade among nations<br>B)Regulation of
Q17: David Ricardo believed that the international trade
Q18: The price criterion if the H-O theory
Q19: The basics and gains from international trade
Q20: Heckscher-Ohlin theory of trade is based on<br>A)Two-by-two-by-two
Q21: According to Ricardo, trade is possible between
Q22: According to Ohlin, the comparative cost differences
Q23: Which of the following is the cause
Q25: The Absolute Advantage theory of international trade