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Earn +20 ptsQ: Classical country based trade theory
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Classical theory and Neo-classical theory of International Trade?
in a classical theory says there is perfect competition whereas NE classical states imperfect competition in international trade.
According to classical trade theory a country will export an item?
in which it has a comparative advantage in producing
How useful are country-based theories in explaining international trade?
The country based theories in the international trade help countries define their true allies when taking place in the international trade.
How useful are country based theories in explaining international trade?
The country based theories in the international trade help countries define their true allies when taking place in the international trade.
According to the theory of mercantilism a country has a favorable balance of trade when?
the value of exports is greater than the value of imports
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