Which Economist Introduced the Simple Trade Model and the Concept

question 42

Short Answer

Which economist introduced the simple trade model and the concept of trade based on comparative advantage?

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Definitions:

Optimize Return

To make adjustments or take actions that maximize the benefits or profits gained from an investment or activity.

Dissociates

The act of separating or detaching oneself from a legal, business, or personal relationship.

Limited Liability Company

A legal entity where the owners are protected from personal liability for the debts of the company beyond their initial investment.

Agency

A legal relationship in which one party, known as the agent, is authorized to act on behalf of another, known as the principal, in dealing with third parties.