Examlex
The additional revenue a firm receives as a result of selling an additional unit of output is called
Factor Endowments
Refers to the quantity and quality of resources a country or region has available, such as labor, land, and capital.
Heckscher-Ohlin Theorem
An economic theory stating that countries export what they can most efficiently and abundantly produce.
Labor Intensive
describes industries or production processes that require a large amount of labor relative to capital in the production process.
WTO
The World Trade Organization, an intergovernmental organization that regulates international trade agreements and disputes between nations.
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