Which of the Following Is True of Factor Endowments According

question 73

Multiple Choice

Which of the following is true of factor endowments according to Porter?

• A)Basic factors,unlike advanced factors,are the most significant for competitive advantage.
• B)Basic factors can be upgraded by nations,while advanced factors are endowed by nature.
• C)The initial advantage provided by advanced factors is extended by investment in basic factors.
• D)Disadvantages in basic factors can create pressures to invest in advanced factors.
• E)Advanced factors include climate,location,and demographics.

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Definitions:

Society

A group of individuals involved in persistent social interaction, or a large social group sharing the same geographical or social territory.

Industrialization

The process by which an economy is transformed from primarily agricultural to one based on the manufacturing of goods, involving widespread technological innovation.

Marx

Karl Marx, a 19th-century philosopher, economist, and revolutionary socialist known for his theories about capitalism and communism.

Consequences

The outcomes or results that naturally follow from an action or condition, affecting how situations unfold.