Saudi Arabia has large crude oil reserves, and India has a large pool of skilled workers. These are both examples of ________.

Question

Quizplus · Accepted Answer

Factor endowments refer to the availability and quality of factors of production, such as natural resources, skilled labor, and capital, in a specific region or country. The statement describes the factor endowments of Saudi Arabia and India, as Saudi Arabia has large reserves of crude oil and India has a large pool of skilled workers.

Saudi Arabia Has Large Crude Oil Reserves, and India Has