Explain the Factor Proportions Theory and Discuss Why It Is

question 31

Essay

Explain the factor proportions theory and discuss why it is at odds with the new trade theory.

---

Definitions:

Need For Achievement

A psychological trait that signifies the drive or motivation to accomplish tasks and attain goals.

Incentive Value

The perceived worth or desirability of a reward that motivates behavior or encourages action towards a goal.

Low Expectation

A belief that a future event or outcome will likely be of lesser quality or significance.

Cognitive Components

Refers to the mental processes involved in perception, memory, and decision-making that contribute to an individual's ability to process information.