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1. Elaborate on the Factor Endowments Theory. This theory is based on the Comparative Advantage reason for trade, which stems from cost. What is the
1. Elaborate on the Factor Endowments Theory. This theory is based on the Comparative Advantage reason for trade, which stems from cost. What is the empirical evidence? You should talk about the concept of Comparative Advantage coined by David Ricardo. That is further elaborated by Heckscher and Ohlin in their theory of factor endowments Does the theory receive empirical support, and if so what is the definitiveness of that support.
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