The Model Suggesting That Countries Will Specialize in Producing the Good

question 21

Multiple Choice

The model suggesting that countries will specialize in producing the good that uses its relatively abundant factor of production most intensively is referred to as the _____ model.

• A)Heckscher-Ohlin
• B)absolute advantage
• C)sweatshop labor
• D)pauper labor fallacy

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Definitions:

Promisee

A person to whom a promise is made or directed, particularly in a legal contract.

Familial Relationship

A social or blood connection existing between two or more people who are considered to be part of the same family unit.

Recognized

Generally refers to the acceptance or acknowledgment of something as valid, legal, or official.

Substantial

Of considerable importance, size, or worth; significant enough to merit attention.