David Ricardo

High school (ages 12+)
History & Culture

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Step 1 · Read the article

Open the article and read it at the level above. Then answer the questions below in your own words.

https://smallwhale.org/articles/david-ricardo

Write what each word means, using the article.

Do not copy the article. Write two things you learned, the way you would explain them to a friend.

Answers below are taken from the article’s stored facts, so they match what the student read.

1. When was David Ricardo born?London, England, April 18, 1772
2. When did David Ricardo die?Gatcombe Park, Gloucestershire, England, September 11, 1823
3. What is the major work?On the Principles of Political Economy and Taxation (1817)
4. What is the key economic theory?Comparative Advantage
5. Who was David Ricardo and why is he called a money master?He was a smart economist and former stockbroker who taught how countries can trade to become richer. He used his money knowledge to write important ideas about trade and wages.
6. What is comparative advantage and how does it help countries?It's the idea that each country should make the goods it can produce most cheaply compared to others, then trade. This lets everyone have more food, clothes, and other things.

Opportunity Cost: The value of the next-best alternative that must be forgone to pursue a certain action.
Protectionism: Economic policies that restrict international trade to help domestic industries, often through tariffs and quotas.
Labor Theory of Value: An economic theory suggesting that the value of a commodity is determined by the amount of labor required to produce it.