The Heckscher-Ohlin Theory Predicts That Countries Will

question 45

Multiple Choice

The Heckscher-Ohlin theory predicts that countries will

• A) export those goods that make intensive use of factors that are locally scarce.
• B) export those goods that make intensive use of factors that are locally abundant.
• C) import those goods that make intensive use of factors that are locally abundant.
• D) import those goods that make intensive use of factors that are available worldwide.

Understand the difference between express and implied warranties in sales contracts.

Identify the conditions under which a breach of warranty occurs.

Comprehend the rules for construction when express and implied warranties are consistent.

Recognize the Magnuson-Moss Warranty Act requirements for full warranties.

---

Definitions:

Limited Supply

A situation where the availability of a product, resource, or commodity is not sufficient to satisfy the demand for it.

Limited Time

A situation or condition where there is a restricted duration available to complete a task or achieve an objective.

Fundamental Attribution Error

The tendency to overestimate the influence of personality and underestimate the influence of situations in judging others' behavior.

Experiment

A systematic and scientific procedure carried out to test a hypothesis by manipulating variables and observing the outcome.