_______ Argued That Comparative Advantage Rises from Differences in National

question 12

Multiple Choice

_______ argued that comparative advantage rises from differences in national factor endowments.

• A) Heckscher and Ohlin
• B) Smith
• C) Sachs and Warner
• D) Ricardo
• E) Porter

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Definitions:

Capital

Financial assets or the financial value of assets, such as funds held in deposit accounts and/or the physical factors of production.

Capital

Financial assets or the financial value of assets, such as funds held in deposit accounts and/or physical factors of production.

Production Functions

A mathematical relationship that describes how input factors such as labor and capital are converted into output or goods and services.

Substitute

A good or service that can be used in place of another good or service, often because they share similar characteristics or fulfill similar needs.