Teaching UGC NET Mock Test Series 2025 (Paper 1 & 2) Business Environment and International Business Socio-cultural factors and their influence on business Theories of international trade
According to the Heckscher-Ohlin theory, which one of the following statements is correct?
1
Trade should take place among countries that have greater differences in their factor endowments.
2
A country with a relatively cheaper cost of labour would export labour-intensive products.
3
Country benefits from international trade even if it is less efficient than other nations.
4
Countries with the proximity of geographical locations would have greater trade compared to the distant ones.