Question

"Ricardo's comparative advantage theory states that...?"

A countries can benefit from international trade by specializing in what they're best at and importing what they're not.
B countries should specialize in producing goods where they have an absolute advantage, regardless of other countries' costs.
C international trade is only beneficial if one country is more efficient in producing all goods than another.
D protectionist policies, such as tariffs and quotas, are necessary to safeguard domestic industries from foreign competition.
Practice Next

Hey! Ask a query

🎓
Think You're Ready for RBI Grade B?
RBI Grade B 2026 Phase 1 Memory Based Paper
  • 200 Questions with Detailed Solutions
  • Section-wise Coverage (GA, English, Quant & Reasoning)