The Basis for Trade Is Explained by the Principle of Absolute

question 68

True/False

The basis for trade is explained by the principle of absolute advantage according to David Ricardo and the principle of comparative advantage according to Adam Smith.

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Definitions:

Laryngopharynx

The part of the pharynx that lies below the epiglottis and above the esophagus, involved in both respiration and digestion.

Trachea

The windpipe, a tube that connects the larynx to the bronchi of the lungs, allowing the passage of air.

Glottis

The part of the larynx consisting of the vocal cords and the slit-like opening between them. It plays a key role in producing sounds.

Epiglottis

A leaf-shaped flap in the throat that prevents food and drink from entering the windpipe when swallowing.