Comparative Costs Theory | Economics Discussion

Comparative Costs Theory (Evaluation) | International Trade | Economics

In this article we will discuss about the critical and empirical evaluation of comparative costs theory. The complexities and peculiarities of international trade necessitated the separate treatment of international trade from the domestic or interregional trade. The classical theorists tried to create a theoretical structure to deal with such fundamental issues as why different countries engage themselves in trade; which [...]

By Aahana S|2018-03-15T11:34:43+05:30March 15, 2018|Comparative Costs Theory|Comments Off

Costs and the Theory of Comparative Costs | Economics

In this article we will discuss about the costs and the theory of comparative costs. Transport Costs and the Theory of Comparative Costs: The Ricardian comparative costs theory rests upon the assumption that there is an absence of transport costs. This assumption is not at all valid in actual life. The transport costs not only exist but these can also [...]

By Aahana S|2018-03-15T11:34:43+05:30March 15, 2018|Comparative Costs Theory|Comments Off

Taussig’s Approach to the Comparative Cost Theory | Economics

In this article we will discuss about:- 1. Comparative Costs Theory Expressed in Money Terms— Taussig's Contribution 2. Taussig's Refinement Related to Non-Competing Groups 3. Taussig's Refinement Related to Charges on Capital. Comparative Costs Theory Expressed in Money Terms— Taussig's Contribution: In the Ricardian comparative costs principle, an assumption is taken that money does not exist and production is measured [...]

By Aahana S|2018-03-15T11:34:43+05:30March 15, 2018|Comparative Costs Theory|Comments Off

Archive | Comparative Costs Theory

Comparative Costs Theory (Evaluation) | International Trade | Economics

Costs and the Theory of Comparative Costs | Economics

Taussig’s Approach to the Comparative Cost Theory | Economics