For the Difference in Factor Endowment to Be the Basis

question 34

Multiple Choice

For the difference in factor endowment to be the basis of trade the Heckscher-Ohlin theorem requires that:

• A)the two nations in questions have different tastes.
• B)trading partners are different in terms of the level of technology.
• C)Both nations only have broadly similar tastes because the level of technology is not relevant.
• D)both nations have similar tastes and technology.

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Definitions:

Self-Concept

An individual's perception of their own identity and personal attributes, including beliefs, feelings, and thoughts about oneself.

Social Environment

The immediate physical and social setting in which people live or in which something happens or develops.

Outward Behavior

The observable actions or reactions of an individual in response to external or internal stimuli.

Self-Concepts

Describes an individual's perception and assessment of themselves, encompassing self-image, self-esteem, and the roles they identify with.