Background and terminology absolute advantage In 1776 the Scottish economist Adam Smith,in The Wealth of Nations, proposed that specialization in production leads to increased output. He believed that in order to meet a constantly growing demand for goods, a country's scarce resources must be allocated efficiently. 制价爱行蜀易大考
Background and terminology Background and terminology absolute advantage absolute advantage In 1776 the Scottish economist Adam In 1776 the Scottish economist Adam Smith, in The Wealth of Nations, Smith, in The Wealth of Nations, proposed that specialization in proposed that specialization in production leads to increased output. production leads to increased output. He believed that in order to meet a He believed that in order to meet a constantly growing demand for goods, constantly growing demand for goods, a country's scarce resources must be a country's scarce resources must be allocated efficiently. allocated efficiently
Background and terminology According to Smith's theory,a country that trades internationally should specialize in producing only those goods in which it has an absolute advantage-that is,those goods it can produce more cheaply than can its trading partners.The country can then export a portion of those goods and,in turn,import goods that its trading partners produce more cheaply.Smith's work is the foundation of the classical school of economic thought. 制价爱行蜀易大考
Background and terminology Background and terminology According to Smith's theory, a country that According to Smith's theory, a country that trades internationally should specialize in trades internationally should specialize in producing only those goods in which it has an producing only those goods in which it has an absolute advantage absolute advantage—that is, those goods it that is, those goods it can produce more cheaply than can its trading can produce more cheaply than can its trading partners. The country can then export a partners. The country can then export a portion of those goods and, in turn, import portion of those goods and, in turn, import goods that its trading partners produce more goods that its trading partners produce more cheaply. Smith's work is the foundation of the cheaply. Smith's work is the foundation of the classical school of economic thought. classical school of economic thought
Background and terminology 1776年，苏格兰经济学家亚当斯密，在《国富论》 一书中指出，生产的专业化导致产量的增加。他认 为，为了满足不断增长的货物需求，一个国家匮乏 的资源必须进行有效的配置。根据他的理论，进行 国际贸易的各个国家，应该专门生产具有绝对优势 的货物，也就是说，该国能以比它的贸易伙伴更 低廉的价格生产那些物品，反过来，可以进口其贸 易伙伴以更低廉价格生产的物品。亚当斯密奠定 了古典经济学派的基础。 刿价爱所質易大考
Background and terminology Background and terminology 1776年，苏格兰经济学家亚当 年，苏格兰经济学家亚当 •斯密，在 《国富论 》 一书中指出，生产的专业化导致产量的增加。他认 一书中指出，生产的专业化导致产量的增加。他认 为，为了满足不断增长的货物需求，一个国家匮乏 为，为了满足不断增长的货物需求，一个国家匮乏 的资源必须进行有效的配置。根据他的理论，进行 的资源必须进行有效的配置。根据他的理论，进行 国际贸易的各个国家，应该专门生产具有绝对优势 国际贸易的各个国家，应该专门生产具有绝对优势 的货物， 也就是说，该国能以比它的贸易伙伴更 也就是说，该国能以比它的贸易伙伴更 低廉的价格生产那些物品，反过来，可以进口其贸 低廉的价格生产那些物品，反过来，可以进口其贸 易伙伴以更低廉价格生产的物品。亚当 易伙伴以更低廉价格生产的物品。亚当 •斯密奠定 了古典经济学派的基础。 了古典经济学派的基础
Background and terminology comparative advantage economic theory,first developed by David Ricardo of England,that attributed the cause and benefits of international trade to the differences among countries in the relative opportunity costs of producing the same commodities.In Ricardo's theory, which was based on the labor theory of value (in effect,making labor the only factor of production), 贵价爱，所質易大孝
Background and terminology Background and terminology comparative advantage comparative advantage economic theory, first developed by economic theory, first developed by David Ricardo of England, that David Ricardo of England, that attributed the cause and benefits of attributed the cause and benefits of international trade to the differences international trade to the differences among countries in the relative among countries in the relative opportunity costs of producing the opportunity costs of producing the same commodities. In Ricardo's theory, same commodities. In Ricardo's theory, which was based on the labor theory of which was based on the labor theory of value (in effect, making labor the only value (in effect, making labor the only factor of production), factor of production)
Background and terminology the fact that one country could produce everything more efficiently than another was not an argument against international trade. 经济学理论；首先由英格兰的大卫李嘉图提出的经济 学理论。该理论针对国家间生产同类商品的相对机会 成本的不同，阐明了进行国际贸易的理由和好处。李 嘉图的理论建立在劳动价值论的基础之上（实际上， 劳动是生产的唯一要素)，按照他的理论，一个国家 有可能更有效地生产所有的产品，这并不构成反对国 际贸易的依据。 制尔香行質多大考
Background and terminology Background and terminology the fact that one country could produce the fact that one country could produce everything more efficiently than another was not everything more efficiently than another was not an argument against international trade. an argument against international trade. 经济学理论；首先由英格兰的大卫 经济学理论；首先由英格兰的大卫 •李嘉图提出的经济 李嘉图提出的经济 学理论。该理论针对国家间生产同类商品的相对机会 学理论。该理论针对国家间生产同类商品的相对机会 成本的不同，阐明了进行国际贸易的理由和好处。李 成本的不同，阐明了进行国际贸易的理由和好处。李 嘉图的理论建立在劳动价值论的基础之上（实际上， 嘉图的理论建立在劳动价值论的基础之上（实际上， 劳动是生产的唯一要素），按照他的理论，一个国家 劳动是生产的唯一要素），按照他的理论，一个国家 有可能更有效地生产所有的产品，这并不构成反对国 有可能更有效地生产所有的产品，这并不构成反对国 际贸易的依据。 际贸易的依据