In Terms of Explaining Why Some Countries Export Automobiles,consumer Electronics,and

question 55

Multiple Choice

In terms of explaining why some countries export automobiles,consumer electronics,and machine tools,while other countries export chemicals,watches,and jewellery,David Ricardo's theory of comparative advantage offer an explanation in terms of

• A) international differences in intellectual capital.
• B) international differences in labour productivity.
• C) the interplay between the proportions in which the factors of production (such as land, labour, and capital) are available in different countries and the proportions in which they are needed for producing particular goods.
• D) the cultural histories of the exporting nations.
• E) the geographic location of potential trading partners.

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Definitions:

Absence

The lack or nonexistence of something or someone in a particular place.

Haemophilus Influenzae Type B

A type of bacteria that can cause severe infections, particularly in young children, leading to diseases such as meningitis and pneumonia.

Genetic Predisposition

The increased likelihood of developing a particular disease based on a person's genetic makeup.

Analgesia

The relief of pain without causing loss of consciousness, often achieved through medication.