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 of international trade:
1
Comparative advantage arises from differences in factor endowments such as labor and capital.
2
Countries should focus on exporting high-tech products to maintain economic growth.
3
Tariffs and subsidies should be eliminated for efficient international trade.
4
Comparative advantage is solely based on technological advancements.