Bordunia is a country that is abundant in iron ore. It has developed extensive trade relations with Calzonia, a neighboring country that is rich in oil. Bordunia, however, has limited trade relations with Graznesia, which is equally rich in iron ore. The given scenario reinstates the validity of the _____.
A) Ricardian trade theory
B) theory of economies of scale
C) Heckscher-Ohlin theory of trade
D) theory of overlapping demand
Correct Answer:
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