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Finance & Trade

Macroeconomics Core

How countries trade, set prices, and split up work — from classic economics books.

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Where the facts come from

  • Adam Smith Wealth of Nations

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Sample real factsshowing 2 rows

#econ_001 · unison_macroeconomics_core

Trade Smith Book IV Chapter 2: Absolute advantage in trade—export goods where domestic labour cost < foreign labour cost. Pin factory: 18 operations, 10 workers, 48,000 pins/day vs. 1/worker solo.

#econ_002 · unison_macroeconomics_core

Pricing Market price vs. natural price: short-run deviation driven by demand shocks. Long-run convergence to natural price = sum of wages + profit + rent.