According to the Specific-Factors Theory, Resources That Are Specific to Import-Competing

question 43

True/False

According to the specific-factors theory, resources that are specific to import-competing industries tend to lose as a result of trade, while resources specific to export industries tend to gain as a result of trade.

---

Definitions:

Aggregate Plans

Strategies for overall operations that are developed to facilitate the effective management of processes and resources to meet overall business objectives.

Master Schedules

Detailed plans that outline the timing and sequencing of production activities to ensure efficient operations and delivery of goods.

Sequence of Decisions

A series of choices made over time, each of which may be influenced by the outcome of previous decisions in various contexts such as strategic planning or operations management.

Capacity Planning

Capacity Planning involves the process of determining the production capacity needed by an organization to meet changing demands for its products or services.