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Ricardian Model
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Summary
The Ricardian Model is a way to understand why countries trade with each other. It shows that countries can be better off by making things they are good at and trading them for things they are not as good at making.
Concepts
Comparative Advantage
Opportunity Cost
Trade
Specialization
Productivity
Relevant Degrees
Economic Theory and Concepts 70%
Trade and Global Economy 30%
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