Which Economist Laid the Foundation for the Factor Endowment Theory

question 31

Multiple Choice

Which economist laid the foundation for the factor endowment theory with his article entitled "The Effect of Foreign Trade on the Distribution of Income"?

• A)Eli Heckscher
• B)Bertil Ohlin
• C)Alfred Marshal
• D)Raymond Vernon

---

Definitions:

Permanent/Temporary

Refers to accounting records: permanent accounts track financial activities that span over multiple fiscal years; temporary accounts measure activity within a single fiscal year.

Normal Balance

The side of an account (either debit or credit) expected to have a higher balance based on standard accounting practices.

Financial Statement

A structured report on the fiscal operations and condition of an organization, individual, or any other body.

Permanent/Temporary

Describes accounts that are either not closed at the end of the accounting period (permanent) or are closed and reset (temporary).