If,England 1 wine = 1/2 cloth and if Portugal 1 wine = 1 cloth, this I an example of
A) Comparative advantage
B) Absolute Advantage
C) Similar Cost
D) Unequal Cost
Correct Answer:
Verified
Q12: If a country enjoys an absolute advantage
Q13: According to H-O theory, International trade is,
Q14: H-o Theory s based on value theory.
A)Partial
B)Semi-partial
C)General
D)Semi-General
Q15: H-O Theory is a -------model
A)1 X 1
Q16: Commodity Y is Capital intensive if -------
A)Ky
Q18: If Commodity Y requres 2 units of
Q19: Factor intensity is measured in -------terms
A)Absolute Cost
B)Factor
Q20: Total amount of labor in Nation 1
Q21: Factor abundance can be explained using
A)Demand curve
B)Supply
Q22: A nation is capital abundant if
A)PK1/PL1 <
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