Multiple Choice
The term 'factor intensity' refers to
A) The relative proportion of two commodities produced in a given period
B) The relative amount of resources each country possesses
C) The relative proportion of various factors of production used to produce a commodity
D) None of the above
Correct Answer:
Verified
Correct Answer:
Verified
Q4: The opportunity cost theory considers<br>A)Labour as the
Q5: According to the absolute differences in cost
Q6: The classical theory of international trade is
Q7: Community indifference curves have the same characteristics
Q8: In case of Mill's theory, where country
Q10: Relative factor abundance in H-O theory of
Q11: The principle of reciprocal demand was introduced
Q12: If a country has favourable terms of
Q13: The Comparative theory of international trade is
Q14: Gains from trade depends on<br>A)Relative strength of