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Ashandeep Singh
on Nov 05, 2024

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The quantity and quality of labor, land, and natural resources of a country are its

A) capital stock.
B) productive capacity.
C) factor endowments.
D) economic potential.

Factor Endowments

The quantity and quality of labor, land, and capital that a country possesses, influencing its economic productivity.

Labor

The application of human physical and intellectual labor in the manufacture and provision of goods and services.

Natural Resources

Materials or substances such as minerals, forests, water, and fertile land that exist in nature and can be used for economic gain.

  • Appreciate the significance of factor endowments in the analysis of trade patterns based on the Heckscher-Ohlin model.
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Raphael UmiteNov 11, 2024
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