Which Is Not an Assumption of the H-O Model

question 11

Multiple Choice

Which is not an assumption of the H-O model

• A)the same technology in both nations
• B)constant returns to scale
• C)complete specialization
• D)equal tastes in both nations

Understand the voucher system and its application in accounting.

Differentiate between the gross and net methods of recording invoices.

Understand the journal entries associated with the purchase and payment cycle, including discounts and returns.

Recognize the implications of partial payments and the handling of changes in vouchered amounts.

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Definitions:

Occupational Attainment

The level of achievement an individual has reached in their career, often measured by their job title, status, and income.

Cultural Capital

Non-material assets that include education, intellect, style of speech, and dress, which can give an individual a higher status in society.

Social Reproduction

The tendency of social classes to remain relatively stable as class status is passed down from one generation to the next.

Pierre Bourdieu

A French sociologist, anthropologist, and philosopher known for his theory of habitus and concepts of cultural capital, social capital, and symbolic violence.