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Heckscher-Ohlin Model
An economic theory that suggests that countries export what they can most efficiently and abundantly produce, based on their factors of production.
Labor-Intensive
A process or industry that requires a large amount of labor to produce its goods or services, typically compared to the amount of capital required.
Labor-Abundant
Referring to countries or regions that have a high supply of labor relative to capital, often resulting in lower labor costs.
World Trade Organization
An international organization that regulates international trade and ensures the smooth and free flow of trade between countries.
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