the statement that “it is not a difference in the absolute cost of production which determines the interchange [of commodities between countries], but a difference in the comparative
- What are the advantages which a country derives from foreign trade?
- Explain clearly the following passage: “We may often, by trading with foreigners, obtain their commodities at a smaller expense of labor and capital than they cost to the foreigners themselves.”
- Is there any essential difference between trade between country and country, and trade between county and county, or even between man and man? What is the real nature of trade in all cases?
- Why is it necessary to make any different statement of the laws of value for foreign than for domestic products? What is the cause for the existence of any international trade?
- How would a serious decline in the efficiency of England, as compared with other countries, in the production of manufactures affect the scale of money incomes and prices in England, and why?
- Mr. Mill refers the value of home products to the “cost of production”; of foreign products to the “cost of acquisition.” Examine the truth of this distinction.
- It is said that in the home market the value of commodities depends on the cost of production, in the foreign market on