Which of the following economists is regarded as having developed the theory of comparative advantage?Adam Smith  David RicardoJoseph StiglitzAlbert Einstein

10. The Ricardian model of comparative advantage lends support to the argument thatA) trade tends to worsen the conditions of unskilled labor in rich countries.B) trade tends to worsen the conditions of owners of capital in rich countries.C) trade tends to worsen the conditions of workers in poor countries.D) trade tends to worsen the conditions of workers in rich countries.E) trade is mutually beneficial to the countries that engage in it.

The theory of comparative advantage demonstrates that even if a country is less efficient than another in producing all goods, it can still benefit from trade by specializing in the production of the good in which it has:  A. The highest absolute advantage  B. The lowest opportunity cost  C. The highest total production  D. The lowest absolute cost

Which economist most supported the idea that economies work best when governments avoid interfering with private businesses?A.John Maynard KeynesB.Adam SmithC.Thomas Robert MalthusD.Karl Marx

Complete the statement below.The first limitation of the theory of comparative advantage is that increased    might increase output and lead to rising    costs caused by    of scale.

Complete the lists below to show the assumptions and limitations of the Theory of Comparative Advantage:$$​Assumptions:1. Average costs are   .2. There are no trade   .3. There are no    costs.$$​Limitations:1. Specialisation can cause average costs to increase due to    of scale.2. There are often trade barriers such as   .3. There are real life    costs when trading.