The Conclusions of Adam Smith and David Ricardo on the Gains

question 44

True/False

The conclusions of Adam Smith and David Ricardo on the gains from trade are no longer valid due to the increase of barriers to trade.

---

Definitions:

Product-Mix

The total range of products that a company offers to sell, including all its product lines, variants, and items.

New-Product Characteristic

Features or attributes that define a newly launched product, distinguishing it from existing products in the market.

Potential Customer's Needs

Represents the specific requirements or preferences of potential buyers that businesses aim to meet with their products or services.

Product Knowledge

The understanding of a product's features, benefits, applications, and uses, which is crucial for effective sales and marketing efforts.