Examlex
Positivism in the social sciences represents an attempt to
Natural Comparative Advantage
A situation where a country or region can produce a particular good or service at a lower opportunity cost compared to other countries or regions.
Factor Endowments
Refers to the quantity and quality of resources a country or region has available, such as labor, land, and capital.
Heckscher-Ohlin Theorem
An economic theory stating that countries export what they can most efficiently and abundantly produce.
Labor Intensive
describes industries or production processes that require a large amount of labor relative to capital in the production process.
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