The Specific Factors Model Assumes That There Are ________ Goods

question 19

Multiple Choice

The specific factors model assumes that there are ________ goods and ________ factor(s) of production.

• A) two; three
• B) two; two
• C) two; one
• D) three; two
• E) four; three

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Definitions:

Equivalent Ratio

A way to express the same relationship or proportion between two quantities, although the numbers involved may differ.

Equivalent Ratio

A proportional relationship between two quantities showing how many times one value contains or is contained within the other.

Ratio

A ratio is a quantitative relationship between two numbers showing the number of times one value contains or is contained within the other.

Ratio

A ratio represents a quantitative relationship between two or more numbers, showing how many times one value contains or is contained within the other.