In the H-O Model,international Trade Is Based Mostly on a Difference

question 2

Multiple Choice

In the H-O model,international trade is based mostly on a difference in:

• A)technology
• B)factor endowments
• C)economies of scale
• D)tastes

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Definitions:

Technological Differences

The variations in technology across different cultures, societies, or historical periods, impacting development, efficiency, and lifestyles.

Social Differences

Variations in the socioeconomic status, cultural background, or demographic characteristics among individuals or groups within a society.

Historical Types

Classifications used in history and historiography to identify and categorize periods, societies, or phenomena based on common characteristics.

Reference Group

A social group that individuals use as a standard for evaluating themselves and their own behavior, often influencing attitudes and norms.