The Shipbreakers of Alang Represent a Perfect Example of How

question 21

Multiple Choice

The Shipbreakers of Alang represent a perfect example of how a developing country can apply the principles of the Heckscher-Ohlin model, since

• A) shipbreaking is generally considered to be a capital-intensive operation and India, being a large country has much capital.
• B) shipbreaking is a labor-intensive operation in India, and India has many workers since it is such a large country.
• C) shipbreaking is a labor-intensive operation in India, and India's availability of capital per worker is less than that of its trade partners.
• D) shipbreaking is a capital-intensive operation elsewhere in the world, and therefore represents a case of a factor intensity reversal.
• E) India's climate lends itself to the work involved in shipbreaking.

Identify the effects of changes in the value of land use on the supply of land for different purposes.

Appreciate the economic principles underlying the determination of land values and prices in different locations.

Learn the significance of market competition and how it influences factor markets and prices.

Understand how the fixed supply of certain resources affects their returns and pricing.

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Definitions:

Self-Development

The process of improving oneself through such activities as enhancing employment skills, increasing consciousness, and building wealth.

Unconscious Instincts

Fundamental, innate drives or impulses that influence human behavior and decision-making, often without our conscious awareness.

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Forms of communication produced by a few people for consumption by the masses.

Socialization

The lifelong process by which we learn our culture, develop our personalities, and become functioning members of society.