Question

11.
have explained the
basis of international trade in terms
of factor endowments,
O a) David Ricard
b) Heckscher and Ohlin
c) Alfred Marshall
d) Taussig​

Answer 1

Answer:

I am not able to understand the question sorry bro

Explanation:

a big difference between the two sides of the class. this is not answer so please ignore it.

Answer 2

QUESTION:

The correct question should be:

________ have explained the basis of international trade in terms of factor endowments.

a) David Ricard

b) Heckscher and Ohlin

c) Alfred Marshall

d) Taussig​

ANSWER:

Heckscher and Ohlin have explained the basis of international trade in terms of factor endowments. (option b)

• The theory on factor endowment, concerning the comparative advantage in international trade among countries, was given by Swedish economists, Eli Heckscher and Bertil Ohlin. It has been given the name Heckscher-Ohlin theory.
• This theory is used to evaluate the comparative advantage of different countries.
• According to the theory, a country will tend to export capital-intensive products but import labor-intensive products, if it has plentiful capital and scarce labor, relatively. The vice versa also holds true as per the theory.
• Thus, the correct answer will be option 'b'.