One of the First Economists to Understand and Explain the Notion

question 46

Multiple Choice

One of the first economists to understand and explain the notion that specialization and trade depend on comparative and NOT absolute advantage was

• A) Adam Smith.
• B) Edwin Mansfield.
• C) John Maynard Keynes.
• D) Thomas Malthus.
• E) David Ricardo.

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Definitions:

Pilot Project

A small-scale, preliminary study conducted to evaluate feasibility, duration, cost, and adverse events, used to predict the potential of a larger initiative.

Diffusion Of Change

Refers to the process by which new ideas, products, or practices are spread within a society or from one society to another.

Stress Management

Techniques and practices individuals use to reduce, manage, and cope with stress.

Coercion

The practice of persuading someone to do something by using force or threats.