Ricardian model International trade theory

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the law of comparative advantage first proposed david ricardo.


the ricardian theory of comparative advantage became basic constituent of neoclassical trade theory. undergraduate course in trade theory includes presentation of ricardo s example of two-commodity, two-country model. modern development, see ricardian theory of international trade (modern development)


the ricardian model focuses on comparative advantage, arises due differences in technology or natural resources. ricardian model not directly consider factor endowments, such relative amounts of labor , capital within country.


the ricardian model based on following assumptions:



labor primary input production.
the relative ratios of labor @ production of 1 can traded off differ between countries.






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