Question : Which economist developed international trade theory in 1817 based on comparative advantage and specialisation?
Option 1: Paul Krugman
Option 2: Milton Friedman
Option 3: Gary Becker
Option 4: David Ricardo
Correct Answer: David Ricardo
Solution : The correct answer is David Ricardo.
In 1817, David Ricardo created the idea of international trade, which was based on specialisation and comparative advantage. He is credited with creating the law of comparative advantage in his book "On the Principles of Political Economy and Taxation."
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