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Influence of David Ricardo's Theory of Comparative Advantage on International Trade

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The Influence of David Ricardo’s Theory of Comparative Advantage on International Trade
David Ricardo ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Theory of Comparative Advantage Mary Don
50 50 100 200 Maximum production if the entire month is spent in one activity,,,
25 25 50 100 If they spend half a month doing each activity
One day, Mary meets Don And Makes an Offer,,, 37 for 25
50 25 150 0 Before Trading,,,
After Trading,,, 25 50 37 113 37 for 25
Comparison,,, Maximum Consumption without trade: 25 25 50 100 Consumption after trade: 25 37 50 113 Gains from Trade: 25 Fish

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Influence of David Ricardo's Theory of Comparative Advantage on International Trade