The Theory of Resource Endowment

question 25

Multiple Choice

The theory of resource endowment:

• A) explains why France exports cosmetics, wine, commercial aircraft, and clothing.
• B) states that a nation will trade goods that can be produced with the production factor that is most abundant.
• C) explains why an automobile can be made either by hand or by a capital-intensive process.
• D) explains why transportation costs may be ignored when calculating the costs of imports.
• E) none of the above.

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Definitions:

Diverse Workforce

Represents a range of employees with varying gender, age, race, ethnicity, cultural background, sexual orientation, religious belief, and physical abilities.

Global Marketplace

An interconnected system for trading goods and services that transcends national borders, integrating economies worldwide.

Management Challenge

The myriad of difficulties and obstacles that managers face in planning, organizing, leading, and controlling within an organization to achieve its goals.

Diversity Leadership

The practice of acknowledging, appreciating, and utilizing the diverse backgrounds and perspectives within an organization to drive success.