Teaching UGC NET Mock Test Series 2025 (Paper 1 & 2) General Knowledge Economy National Income Accounting
Which of the following statements is/are incorrect?
a) According to Heckscher-Ohlin, mutually beneficial trade is based on the principle of absolute advantage.
b) The law of comparative advantage indicates that each country will specialize in the production of those commodities in which it has the greatest comparative advantage or the least comparative disadvantage.
1
a only
2
b only
3
Both a and b
4
Neither a nor b