What type of trade was the early country-based theories of international trade most useful in understanding?

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Early country-based theories of international trade, such as Adam Smith's theory of absolute advantage and David Ricardo's theory of comparative advantage, were most useful in understanding the trade of commodities. These theories explained how countries could benefit from trading goods in which they have a production advantage, which was often related to natural resources or agricultural products—typical commodities of early international trade.

What Type of Trade Was the Early Country-Based Theories of International