The difference in the domestic cost ratios of producing two commodities in two countries is known as

Related MCQs

• The difference in price ratios of two commodities in the two trading countries is
• The quota system in which domestic producers of a quota fixing country are required to make use of both domestic raw materials and a specified proportion of imported raw materials to produce a product
• According to the Heckscher-Ohlin theory of trade, the most important cause of difference in relative commodity prices and trade between nations is a difference in
• When a uniform rate of duty is imposed on all similar commodities irrespective of the country from which they are imported, it is called
• When government levies import duties which varies with prices of commodities imported , it is called
• The tariff rates which are based on trade agreements or treaties with other countries is known as
• When import quotas are fixed after negotiations between the importing and exporting countries, it is known as
• According to Ricardo, trade is possible between two countries when
• The term ‘terms of trade’ between two countries refers to
• The actual exchange ratio between two countries will depend upon the