Hong Kong Is Relatively Abundant in Labor, While Canada Is

question 105

Multiple Choice

Hong Kong is relatively abundant in labor, while Canada is relatively abundant in capital.In both countries, the production of shirts is relatively more labor intensive than the production of computers.According to the factor-endowment theory, Hong Kong will have a(n)

• A) absolute advantage in the production of shirts.
• B) absolute advantage in the production of computers.
• C) comparative advantage in the production of shirts.
• D) comparative advantage in the production of computers.

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Definitions:

Technological Developments

Advances in technology that lead to new products, processes, or improvements in existing products or operations.

Market Trends

The general direction in which the market moves, influenced by factors like consumer behavior, technological advancements, and economic conditions.

Organisational Culture

The set of shared attitudes, values, goals, and practices that characterizes an institution or organization.

Governmental Laws

Statutes and regulations enacted by legislative bodies that govern the actions and behavior of citizens and organizations.