The Heckscher-Ohlin Theory Rules Out the Basis for Trade of the David

question 94

Multiple Choice

The Heckscher-Ohlin theory rules out the basis for trade of the David Ricardo model by assuming that ______ is (are) the same for all countries.

• A) expenditures on advertising and sales promotion
• B) transportation costs
• C) technology
• D) levels of personal income

Understand the rationale behind, and the impact of, efficiency wages and piece-rate pay systems.

Recognize the relationship between labor costs, wage rates, and market competition.

Describe the significance of human capital investments in the labor market.

Understand the effects of minimum wage policies on employment and labor market dynamics.

---

Definitions:

Buying Needs

Represents the recognized requirements or desires that prompt a consumer to consider purchasing products or services.

Trial Close

A sales technique where the salesperson asks the prospect a question or series of questions to gauge the prospect's readiness to buy and identify objections early.

SELL Sequence

A sales technique that involves showing the product, explaining its advantages, leading into benefits for the customer, and letting the customer talk to uncover their needs and interests.

Consumer Buying

The purchasing activities of individuals and households for their personal use or consumption or to meet the collective needs of the household unit, such as a family or individual.