Marshall and Edgeworth introduced a geometrical device to explain the gains from trade which is known as

Related MCQs

• J.S.Mill brought in _ factor to explain termsof trade
• According to H-O theory, International trade is, but a pecial case of _ _ trade.
•     _ _ introduced the concept of Gross barter terms of trade
• Statistics such as GDP, the unemployment rate, the rate of inflation and the trade balance are:
• In a free world in which no restrictions exist, international trade will lead to
• Which of the following is an argument far free trade _ .
• Trade between two countries is called
• International trade is the result of an advantage country possesses in producing a particular commodity at a _         
• According to Adam Smith, international trade is advantageous for all participating countries only if they enjoy _ difference in cost of production
• Who aid the following, " The esence of international trade is not the absolute difference in cost but a comparative difference in cost."