Which of the Following Assumptions of the Heckscher-Ohlin Theory,when Relaxed

question 7

Multiple Choice

Which of the following assumptions of the Heckscher-Ohlin theory,when relaxed, require new trade theories?

• A)Economies of scale
• B)incomplete specialization
• C)similar tastes in both nations
• D)the existence of transportation costs

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Definitions:

Assignee

A person to whom rights or property is legally transferred.

Non Est Factum

Non est factum is a legal defense in contract law that asserts a signed agreement is void because the signer was mistaken about its nature and character.

Negligence

A failure to act with the care that a reasonably prudent person would exercise under the same circumstances, often leading to liability for resulting damages.

Privity of Contract

The principle that a contract confers rights and imposes liabilities only on its parties; no outsider can gain rights or be liable under it.