In Porter's diamond model, factor endowments refer to:

Question

Quizplus · Accepted Answer

Factor endowments in Porter's diamond model refer to inputs such as land, water, natural resources, labor force, and capital. These are the basic factors that a country possesses and can use for economic growth and development. These factors can be either inherited or created, and they can vary in quantity, quality, and accessibility. The factor endowments are considered to be the foundation of a country's competitiveness in a specific industry.

In Porter's Diamond Model, Factor Endowments Refer To