6. The HeckscherOhlin theory argues that the pattern of international trade is determined by differences in factor

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6. The Heckscher–Ohlin theory argues that the pattern of international trade is determined by differences in factor endowments. It predicts that countries will export those goods that make intensive use of locally abundant factors and will import goods that make intensive use of factors that are locally scarce.

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Global Business Today

ISBN: 9781260780611

11th Edition

Authors: Charles Hill

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