In Heckscher-Ohlin model, factor abundance have been defined in two terms. Those are

Related MCQs

• Equilibrium in the factor market achieved at the factor price and factor quantity is given by
• In the 2-factor, 2 good Heckscher-Ohlin model, the two countries differ in
• Factor prices are determined in the factor market under the forces of
• The producer’s demand for a factor of production is governed by the ___ of that factor.
• If MRP = Price of the factor: firm should _______ at the unit of factor
• The locus of the various physically attainable utility combinations of two persons when the factor endowments, state of technology and preference orders of the individuals are given.
• Suppose the world consists of two countries: the UK and Spain. Further, suppose there are only two goods--food and clothing. Which of the following statements is true?
• The cost of one thing in terms of the alternative given up is called:
• The return to a factor of production which is fixed in supply in the short period is called
• Every factor of production gets reward equal to its: