In the 2-Factor, 2-Good Heckscher-Ohlin Model, the Two Countries Differ

question 37

Multiple Choice

In the 2-factor, 2-good Heckscher-Ohlin model, the two countries differ in

• A) tastes and preferences.
• B) military capabilities.
• C) the size of their economies.
• D) relative abundance of factors of production.
• E) labor productivities.

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Definitions:

Frederick Taylor

An engineer who is considered the father of scientific management, emphasizing efficiency, systematic management, and task specialization.

Scientific Management

A management theory developed by F.W. Taylor that emphasizes efficiency and productivity through the measurement, and analysis of workflow.

Operations Management

A field of management concerned with designing and controlling the production process and redesigning business operations in the production of goods or services.

Hand Labor

Work performed manually without the use of machines or technology, often requiring physical effort or skill.