JAMB Economics 2021 Objective — Question 27
Question 27 of 40 from the Joint Admissions and Matriculation Board (JAMB) Economics 2021 Objective paper, with the correct answer and a full explanation.
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27. David Ricardo postulated a Theory of a. Diminishing return b. Comparative cost advantage c. Population theory d. Theory of cost
- A. Diminishing return
- B. Comparative cost advantageCorrect
- C. Population theory
- D. Theory of cost
Explanation
David Ricardo is credited with developing the theory of comparative (cost) advantage, which he presented in his work on political economy.
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