Factor Proportions Theory Was Developed by ________

question 62

Multiple Choice

Factor proportions theory was developed by ________.

• A)Smith and Ricardo
• B)Ricardo and Ohlin
• C)Heckscher and Ohlin
• D)Heckscher and Smith

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Definitions:

Cultural Relativism

Cultural Relativism is the principle that an individual's beliefs and activities should be understood by others in terms of that individual's own culture, emphasizing that one culture is not inherently superior to another.

Other Cultures

The customs, traditions, and values of societies or groups different from one's own, underscoring the importance of cultural diversity and understanding.

Hyper-norms

Fundamental principles that transcend cultural and individual differences, often seen as universal norms of behavior.

Human Dignity

The intrinsic worth and respect owed to every individual, recognizing their inherent value and rights.