principle of comparative advantage
1Comparative advantage — Economics …
2Absolute advantage — The principle of comparative advantage , generally attributed to David Ricardo in his 1817 Principles of Political Economy and Taxation extends the range of possible mutually beneficial exchanges. It is not necessary to have an absolute advantage …
3Competitive exclusion principle — In ecology, the competitive exclusion principle,[1] sometimes referred to as Gause s law of competitive exclusion or just Gause s law,[2] is a proposition which states that two species competing for the same resources cannot coexist if other… …
4Maximum power principle — in Energy Systems Language adapted from Odum and Odum 2000, p. 38 The maximum power principle has been proposed as the fourth principle of energetics in open system thermodynamics, where an example of an open system is a biological cell.… …
5international trade — Introduction economic transactions that are made between countries. Among the items commonly traded are consumer goods, such as television sets and clothing; capital goods, such as machinery; and raw materials and food. Other transactions… …
6Balance of trade — Cumulative Current Account Balance 1980–2008 based on the International Monetary Fund data …
7Protectionism — For the protectionist Australian political party from the 1880s to 1909, see Protectionist Party Protectionism is the economic policy of restraining trade between nations, through methods such as tariffs on imported goods, restrictive quotas, and …
8classical economics — classical economist. a system or school of economic thought developed by Adam Smith, Jeremy Bentham, Thomas Malthus, and David Ricardo, advocating minimum governmental intervention, free enterprise, and free trade, considering labor the source of …
9Arvind Panagariya — Professor of Economics and Jagdish Bhagwati Professor of Indian Political Economy Columbia University Personal details Born September 30, 1952 (1952 09 30) …
10Falsifiability — Are all swans white? Falsifiability or refutability of an assertion, hypothesis or theory is the logical possibility that it can be contradicted by an observation or the outcome of a physical experiment. That something is falsifiable does not… …
