distinguish between factor endowment and factor intensity with table
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"Factor intensity" is a measure used in economics, specifically in macro-economics (whole nation economics rather than micro- consumer finance economics), by which factors of production (e.g., labor, capital, land, natural resources, energy, ecological impact) are compared across various industries (e.g., compared
The factor endowment theory holds that countries are likely to be abundant in different types of resources. In economic reasoning, the simplest case for this distribution is the idea that countries will have different ratios of capital to labor. Factor endowment theory is used to determine comparative advantage
Explanation:
Answer:
Explanation:
(a) Factor intensity measures how the factors of production that is land, labor ,capital and entrepreneurship is allocated among the various sectors in the economy. ... Factor endowment measures the availability of land, labor and capital available to an economy and that an economy can exploit.