the factors of production that are relatively more abundant in that country. The theory is based on an assumption that different countries have different quantities of the factors of productionùland, raw materials, labor, and capital. In effect, the Heckscher-Ohlin theory explains why the theory of comparative advantage is valid (2003, a).
Key Points Found in Both Reading Assignments and Simulation
Four key points found in both the class readings and in the simulation are comparative adv
INTERNATIONAL TRADE SIMULATION
Advantages & Disad. (1969, December 31). In LotsofEssays.com. Retrieved 05:26, April 20, 2024, from https://www.lotsofessays.com/viewpaper/1704849.html