Which economist developed international trade theory in 1817 based on comparative advantage and spec...........

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Which economist developed international trade theory in 1817 based on comparative advantage and specialisation?

This questions was previously asked in

SSC CPO 9th Dec 2019 Shift-1

Paul Krugman

Gary Becker

Milton Friedman

David Ricardo

- Option 4: David Ricardo

- David Ricardo is indeed the economist who developed the theory of comparative advantage in 1817.

- His work emphasized how countries benefit from specializing in the production of goods in which they have a relative efficiency.

- Option 1: Paul Krugman

- An influential modern economist known for his work on New Trade Theory.

- He was awarded the Nobel Prize in Economics in 2008 but did not develop the theory of comparative advantage.

- Option 2: Gary Becker

- A prominent economist known for his work on human capital and family economics.

- He did not focus on international trade theory.

- Option 3: Milton Friedman

- A leading economist recognized for his theories on monetarism and price stability.

- He did not contribute to the foundational concepts of international trade in 1817.

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