The fundamental reason why different countries involve in transactions with one another is the
A) Theory of absolute differences in costs
B) Production of goods
C) Gains from trade
D) Supply of goods
Correct Answer:
Verified
Q11: The H-O theory assumed the prevalence of
A)Monopolistic
Q12: The production possibility curve represents
A)The supply side
B)The
Q13: Relative factor abundance in H-O theory of
Q14: The slope of the production possibility curve
Q15: The term 'factor intensity' refers to
A)The relative
Q17: If a country has favourable terms of
Q18: The income terms of trade is
A)The net
Q19: Which factor does not influence terms of
Q20: Gains from trade depends on
A)Relative strength of
Q21: The principle of reciprocal demand was introduced
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents