Search results for keyword: ricard
Factor Price Equalization Theory
Equalization of commodity price theory refers to the trend in modern economic systems to ensure uniform pricing of commodities or products. It has become an essential part of much of the worlds economy, particularly in countries that embrace free-market principles. The primary concern in this are......
06/07/2023 
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Maggie.
Neo-liberalism
Introduction
Neoliberalism is an economic and social philosophy which promotes the liberalization of markets in a globalized and interconnected world. It has gained prominence since the 1980s and is a prominent feature of contemporary economic and cultural trends. The term, neoliberalism, describ......
Mint Parity Theory
Equivalence Theory of Coinage
Introduction
The Equivalence Theory of Coinage (ETC) is a popular economic and finance theory which suggests that the value of a currency should be equal to the amount of goods or services which it can exchange in a given economy. This theory is based on the idea th......
ricardo's theory of comparative advantage
Introduction
James March, a Nobel Prize-winning behavioral scientist, first authored the concept of comparative advantage theory in his 1968 book Organizations. The theory is also known as economic theory or ricardian theory. It states that when two countries (or organizations) can produce simila......
labor theory of value
“Labor Theory of Value”(LTV)
Introduction
The Labor Theory of Value (LTV) is a widely-accepted concept in economics that holds that the amount of labor required to produce an item, service, or commodity is the driving force behind its price. This theory has been around since the dawn of civil......
economic theory
Classical economic theory
Classical economic theory is the body of economic thought developed in the eighteenth century and early nineteenth century. It is the predecessor of contemporary Keynesian and neoclassical economic theories and is based upon the theories of Physiocrats, Adam Smith, and D......
Classical School of Economics
Classical Economics School
Classical economics School is a school of economic thought rising in the second half of 18th century and the beginning of 19th century. It is a comprehensive thought structure composed of different economic views and ideas. This school of economic thought boosted the rap......
classical economics
Classical Economics
Classical economics is a school of thought within economics that can be traced as far back as the late 18th century. It was developed by a group of economists such as Adam Smith, David ricardo, and Thomas Malthus who sought to understand the principles and motivations that gov......
Theoretical Economics
Introduction
Economics, as defined in its general sense, is the study of how goods and services are produced and distributed. Consequently, it is typically divided into two sub-disciplines, microeconomics and macroeconomics. Both of these, in turn, are based on the classical economic theory.
The......
exogenous comparative advantage theory
Unequal Exchange Advantage Theory
Unequal exchange advantage theory is an economic theory that suggests that countries that have an unequal balance of trade, or export more than they import, will have an economic advantage over their trading partners. The concept of unequal exchange advantage the......
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