Ricardo's law was framed for international trade, but it is equally true for two individuals also. Suppose there are two persons A and B. A produces 10 pieces of Article 1 in one day and produces 8 pieces of article 2 in one day. B produces 5 pieces of article 1 in one day and 6 pieces of article 2 in one day.
Ricardo's Law of Comparative Advantage
Ricardo's Law of Comparative Advantage
Ricardo's Law of Comparative Advantage
Ricardo's law was framed for international trade, but it is equally true for two individuals also. Suppose there are two persons A and B. A produces 10 pieces of Article 1 in one day and produces 8 pieces of article 2 in one day. B produces 5 pieces of article 1 in one day and 6 pieces of article 2 in one day.