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What is Heckscher-Ohlin Theory Overview about?

1) The modern theory of international trade, also known as the Heckscher-Ohlin theory, was developed by Swedish economists Heckscher and Ohlin to explain the causes of trade between countries. 2) The theory argues that differences in factors of production, like capital and labor, between countries leads to differences in the prices of those factors and ultimately the prices of goods, causing trade. 3) Countries will export goods that make intensive use of their abundant and cheaper factors, and import g

Author

Pavithra PRabhu

Language

EN