Economics Mcqs

The comparative advantage comes if each trading partners has a product that will bring a better price in another country than it will at home. Which economist proposed the principle of comparative advantage ?

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The comparative advantage comes if each trading partners has a product that will bring a better price in another country than it will at home. Which economist proposed the principle of comparative advantage ?

A. Adam Smith
B. David Ricardo
C. David Smith
D. Adam Ricardo

Name the system in which the means of production and distribution are privately or corporate owned and development is proportionate to the accumulation and reinvestment of profits which are gained in a free market ?

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Name the system in which the means of production and distribution are privately or corporate owned and development is proportionate to the accumulation and reinvestment of profits which are gained in a free market ?

A. Capitalism
B. Socialism
C. Free market economy
D. Liberalism