Examlex
The largest estuary in the United States is the Chesapeake Bay, which extends through six states. The Bay is one of the most productive natural areas in the world. It is home to thousands of plants and animals, including many commercially important species. The water of the Bay is relatively shallow. Many areas are no more than 10 feet deep, with an average depth of 30 feet. Light penetrates the shallow water and supports submerged plants that provide food and shelter for the many species living in the bay ecosystem. However, like many estuaries, the Bay receives large amounts of fertilizer runoff from farms, lawns, and wastewater treatment facilities.
-The marshland area around the Bay that reduces flooding is a
Heckscher-Ohlin Model
An economic theory that proposes countries will export products that utilize their abundant and cheap factors of production and import products that require factors of production that are scarce and expensive domestically.
Comparative Advantage
The ability of an individual or group to carry out a particular economic activity more efficiently than another activity.
Increasing Returns
A situation in economics where an increase in the amount of inputs leads to a greater proportional increase in the amount of output.
Factor Endowments
The amount of land, labor, capital, and entrepreneurship that a country possesses and can exploit for manufacturing and service provision.
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