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The Factor Endowment Theory States That Comparative Advantage Is Explained

question 81

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The factor endowment theory states that comparative advantage is explained


Definitions:

Human Needs

Fundamental requirements that individuals seek to fulfill, such as physiological, safety, love, esteem, and self-actualization needs.

Hierarchy

An organizational structure that ranks individuals or elements according to levels of importance, authority, or seniority.

Organizational Buyers

Entities that purchase products or services for use in the production of other goods and services, for resale, or for the organization's operations.

Distributors

Entities or individuals responsible for delivering a company's products from the manufacturer to the ultimate consumer or retailer.

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