Match the following.

List-I (Theories of International Trade) List-II (Features)

a. Theory of reciprocal demand 1. Through specialisation, countries could increase their efficiency

b. Theory of absolute advantage 2. It emphasises the demand side as well

c. Theory of mercantilism 3. It assume that there is only one factor of production

d. Theory of comparative cost 4. Countries should export more than they import

A) a-4, b-3, c-2, d-1 B) a-2, b-1, c-4, d-3 C) a-3, b-4, c-1, d-2 D) a-2, b-3, c-4, d-1

Answer & Solution

Correct Answer: Option D

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List-I (Theories of International Trade)	List-II (Features)
a. Theory of reciprocal demand	1. Through specialisation, countries could increase their efficiency
b. Theory of absolute advantage	2. It emphasises the demand side as well
c. Theory of mercantilism	3. It assume that there is only one factor of production
d. Theory of comparative cost	4. Countries should export more than they import