Discover published sets by community

Adam Smith; Countries should specialize in producing goods they can create most efficiently

David Ricardo; Countries should specialize in producing goods with the lowest opportunity cost

Eli Heckscher and Bertil Ohlin; Countries export goods that use their abundant factors intensively

Various authors, notably Thomas Mun; Wealth of a nation is increased through a positive balance of trade with other nations

Paul Krugman; Economies of scale and network effects can lead to imperfect competition and trade even among similar countries

Michael Porter; Four broad attributes of a nation shape the environment in which local firms compete

Jan Tinbergen; The volume of trade between two countries is proportional to the size of their economies and inversely proportional to the distance between them

Various authors; A country's currency value is determined by its balance of payments

Raymond Vernon; The location of production of certain goods shifts as they go through their life cycle