Some economists claim that this concept is obsolete because factors of production can be relocated.
Some economists claim that this concept is obsolete because factors of production can be relocated. This theory was popularized by the author of Political Economy and Taxation, and it states that trade partners should specialize in processes for which they have lower opportunity costs. David Ricardo used an example involving (*) Portuguese wine and English cloth to demonstrate this concept. For 10 points, name this concept that shows that countries can benefit from trade despite having absolute advantage in production.
Some economists claim that this concept is obsolete because factors of production can be relocated.
{comparative} advantage