In David Ricardo's theory of comparative advantage,
A)international trade is a zero-sum game in which one trading partner's gain comes at the expense of another's loss.
B)liberalization of international trade will enhance the welfare of the world's citizens.
C)is a short-run argument,not a long-run argument.
D)has been superseded by the now-orthodox view of mercantilism.

Question

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David Ricardo's theory of comparative advantage suggests that liberalization of international trade will enhance the welfare of the world's citizens. The theory explains that a country can benefit from trading by specializing in producing goods or services that they have comparative advantage in and trading with other countries that specialize in producing other goods or services that they have a comparative advantage in. This allows for an increase in efficiency and productivity, leading to an increase in overall welfare.

In David Ricardo's Theory of Comparative Advantage