Which of the Following Is Explained Well by the Specific-Factor

question 26

Multiple Choice

Which of the following is explained well by the specific-factor approach (Ricardo-Viner model) ?

• A)Steel workers and steel factory owners both lobby for tariffs on imported steel.
• B)Steel workers and agricultural workers join together to oppose tariffs.
• C)Owners of factories in a country with abundant fertile land promote free trade.
• D)Workers in an automobile factory promote free trade while the factory owners lobby for tariffs on imported cars.

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Definitions:

Immediate Profit

Earnings that are realized right after the completion of a transaction or operation.

Higher Market Share

A situation in which a company or product occupies a larger percentage of the total sales in its market relative to competitors.

Social Responsibility

The obligation of an organization to act in ways that benefit society at large, including ethical practices, environmentally sustainable operations, and community engagement.

Stakeholder Obligations

Responsibilities or duties a company owes to its stakeholders, including customers, employees, investors, and communities.