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THE PRINCIPLE OF COMPARATIVE COST
SOME APPLICATIONS OF THE THEORY OF
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abroad advance advantage agricultural American amount appears Argentina assumed balance of payments balance of trade bank bill of lading borrowing bushel of wheat capital carrier cent chapter commercial commission house comparative advantage competition consumers debit item decline demand desired dollars domestic trade draft drawee drawer duties economic effect England example exchange rate export house exports and imports fact factors favorable favored nation finance foreign countries foreign market foreign trade freight function funds Germany gold income increased industrial countries infant industry argument interest international trade Japan labor letter of credit lines loans manufacturing ment merchandise merchant method middlemen nature obtain ocean operation period port possible pounds sterling principle profitable protection protectionism railroad relative result risk sell seller shipment shipper supply tariff tion transaction transportation United wages wheat yards of cloth