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iv) Describe trade in the Ricardian model. It will be helpful to consider a situation before trade (autarky) and after trade. v)As stated comparative advantage
iv) Describe trade in the Ricardian model. It will be helpful to consider a situation before trade (autarky) and after trade.
v)As stated comparative advantage necessarily leads to gains from trade. Mention some reasons why trade may not lead to gains for both countries.
vi) Taking as your staring point the mercantilist , a short paragraph on the historical trends in trade theory that culminated in Ricardo's theory of comparative advantage.
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