Question:medium

Among the following theories of international trade, which one is the oldest?

Show Hint

Mercantilism focused on accumulation of gold and trade surplus, predating classical trade theories.
Updated On: Feb 18, 2026
  • Theory of Absolute Advantage
  • Mercantilist Doctrine
  • Factor Proportions Theory
  • Theory of Comparative Advantage
Show Solution

The Correct Option is B

Solution and Explanation

Step 1: Review the historical progression.
- Mercantilist Doctrine (16th–18th century) → Earliest trade theory
- Absolute Advantage → Adam Smith, 1776
- Comparative Advantage → David Ricardo, 1817
- Factor Proportions → Heckscher-Ohlin, 20th century
Was this answer helpful?
0

Top Questions on Economics

Questions Asked in CUET (PG) exam