The increased interdependence of economies has benefits and costs.
Increased economic integration may result in efficiency, welfare gains and improvements in economic well-being but the benefits may not result in equity.
4.1 Aims.pdf
4.1 Extra Essays.pdf
4.1 Key Concepts.pdf
4.1 Crib.pdf
1. Benefits of trade (aisc)
QUOTES On trade (aisc)
Higher Level
The Law of Comparative Advantage
2. Comparative Advantage (aisc)
David Ricardo
1772 – 1823, British
Classical Economist
Most famous works
On the Principles of Political Economy and Taxation (1817)