Asked by
Matthew Mignone
on Oct 25, 2024
Verified
The Heckscher-Ohlin model cannot explain United States-Mexico trade since the United States has more labor and more land than Mexico.
Heckscher-Ohlin Model
An economic theory that suggests that countries export what they can most efficiently and abundantly produce, based on their factors of production.
- Gain insight into the workings of the Heckscher-Ohlin model and how it forecasts trading patterns according to the availability of resources in different countries.
Verified Answer
KS
Learning Objectives
- Gain insight into the workings of the Heckscher-Ohlin model and how it forecasts trading patterns according to the availability of resources in different countries.
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