In the Specific Factors Model, Which of the Following Is

question 25

Multiple Choice

In the specific factors model, which of the following is treated as a specific factor?

• A) capital
• B) technology
• C) cloth
• D) food
• E) labor

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Definitions:

Foreign Consumers

Individuals or organizations located in one country who purchase goods or services produced in a different country.

Industrial Policy

A strategic effort by a government to encourage the development and growth of specific sectors or industries within the economy.

Economic Development

The process by which a nation improves the economic, political, and social well-being of its people, typically seen through increases in income, education, and health.

World Bank

A worldwide financial agency offering loans and grants aimed at funding capital improvements in less affluent nations through governmental channels.