Examlex
The HO theorem states that a country will have comparative advantage in the good whose production is relatively intensive in the ________ with which the country is relatively abundant.
Free Market Capitalism
An economic system where prices for goods and services are determined by the open market and consumers, with minimal governmental intervention.
Adam Smith
An 18th-century Scottish economist and philosopher known as the father of modern economics, best known for his theories on free markets and the invisible hand.
Morals
Principles or habits with respect to right or wrong conduct, often influenced by cultural, religious, or personal beliefs.
Rule Deontology
An ethical theory that stresses the importance of following universal rules or duties in ethical decision-making, regardless of the consequences.
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