Examlex
What are the benefits and problems associated with international trade?
Factor Endowments
Refers to the quantities of productive resources a country has available, including labor, land, and capital.
Trade Advantage
The benefit or edge a country, region, or business has in producing a specific good or service more efficiently than competitors.
Labor-Abundant
Describes an economy or sector that has a high availability of labor relative to capital.
Land-Abundant
A description of a country or region that has a large amount of land available for agriculture or development relative to other inputs.
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