Evolution of International Trade Theories
12 Questions
1 Views
3.4 Stars

Evolution of International Trade Theories

Explore the historical evolution of international trade theories, from classical country-based theories to modern firm-based theories. Learn about key takeaways from influential economists like Adam Smith and David Ricardo.

Created by
@ChampionJungle

Questions and Answers

Salt was the most popular and valuable item used as a salary of roman ______

soldiers

The advantage of Bartering is that it does not involve ______ and it is very simple

money

Early humans used leaves and animal skin as ______

clothes

The first recognizable metal coins appeared in ______, during 1000 BC

<p>China</p> Signup and view all the answers

Around 770 BC, Small Bronze celts and Bronze rings played a ______ role

<p>monetary</p> Signup and view all the answers

European colonial Government issued the First paper currency in ______

<p>Canada</p> Signup and view all the answers

Adam Smith published Wealth of Nations in ______

<p>1776</p> Signup and view all the answers

David Ricardo published Principles of Economics in ______

<p>1817</p> Signup and view all the answers

The classical theories of international trade are historical ______-based theories

<p>country</p> Signup and view all the answers

The modern mid-twentieth century theories are referred to as ______-based or company-based

<p>firm</p> Signup and view all the answers

Trade surplus is the amount by which the value of a country's exports exceeds the cost of its ______

<p>imports</p> Signup and view all the answers

Comparative advantage is a country's capability to produce specific goods at lower ______ cost

<p>marginal</p> Signup and view all the answers

More Quizzes Like This

International Trade Theories: Mercantilism
20 questions
International Trade Theories
12 questions
International Trade Theories
10 questions

International Trade Theories

EnchantingSchrodinger avatar
EnchantingSchrodinger
Use Quizgecko on...
Browser
Browser