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  • International Business Theories: by Nitika Sharma

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    Akshay Dembra
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    The document discusses several theories of international business: Mercantilism focuses on increasing exports and limiting imports to benefit the nation. Adam Smith proposed absolute cost advantage in 1776, where a country specializes in what it can produce at lowest cost. David Ricardo further developed this in 1817 into comparative cost advantage, where even if one country is less productive overall, countries can still benefit from trade by specializing in areas where their opportunity costs are lowest compared to trade partners.

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    It is about international business management

    Оригинальное название

    IB- Theory

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    The document discusses several theories of international business: Mercantilism focuses on increasing exports and limiting imports to benefit the nation. Adam Smith proposed absolute cost advantage in 1776, where a country specializes in what it can produce at lowest cost. David Ricardo further developed this in 1817 into comparative cost advantage, where even if one country is less productive overall, countries can still benefit from trade by specializing in areas where their opportunity costs are lowest compared to trade partners.

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    Attribution Non-Commercial (BY-NC)
    Скачайте в формате PPT, PDF, TXT или читайте онлайн в Scribd
    Отметить как неприемлемый контент
    10 просмотров6 страниц

    International Business Theories: by Nitika Sharma

    Загружено:

    Akshay Dembra
    The document discusses several theories of international business: Mercantilism focuses on increasing exports and limiting imports to benefit the nation. Adam Smith proposed absolute cost advantage in 1776, where a country specializes in what it can produce at lowest cost. David Ricardo further developed this in 1817 into comparative cost advantage, where even if one country is less productive overall, countries can still benefit from trade by specializing in areas where their opportunity costs are lowest compared to trade partners.

    Авторское право:

    Attribution Non-Commercial (BY-NC)
    Скачайте в формате PPT, PDF, TXT или читайте онлайн в Scribd
    Отметить как неприемлемый контент
    из 6

    INTERNATIONAL BUSINESS THEORIES

    By Nitika Sharma

    Theory of Mercantilism
    The welfare of the nation alone By increasing exports and impeding imports

    Theory of Absolute Cost Advantage


    The theory of absolute cost advantage was propounded by Adam Smith (1776)

    Theory of Comparative Cost Advantage


    Ricardo 1817
    The other country is not equally less productive in all lines of production, measurable in terms of opportunity cost of each commodity in the two countries, it will still be mutually gainful for them if they enter into trade.

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