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international trade
Ricardo's theory on international trade focused on comparative costs and looked at how a country could gain from trade when it had relatively lower costs (i.e. a comparative advantage). The original example focused on the trade in wine and cloth between England and Portugal. Ricardo showed that if one country produced a good at a lower opportunity cost than Another Country, then it should specialise in that good. The other country would therefore specialise in the other good, and the two countries could then trade.
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