Factor conditions in Michael Porter's competitive advantage of Nations include
Skilled labour and scientific knowledge
Porter’s factor conditions include the inputs and capabilities available to firms, such as skilled labour, scientific knowledge and specialised infrastructure. These differ from demand conditions, related industries and domestic rivalry.
Important Questions from Theories of international trade
The following statements relate to transnationality. Choose the correct code for the statements being correct or incorrect.
Statement I: The UNCTAD developed an index to compare the transnationality of countries in which TNCs operate.
Statement II: The UNCTAD followed parameters like FDI flow as a percentage of gross fixed capital formation, FDI inward stock, value added by foreign affiliates and jobs created by them.
Heckscher-Ohlin Theory of factor endowment suggests which of the following types of relationships?
(A) Production — Marketing relationship
(B) Land — Labour relationship
(C) Marketing — Capital relationships
(D) Labour — Capital relationships
(E) Technological complexities
Choose the correct answer from the options given below:
Match List I with List II
LIST I (Theory) LIST II (What Nation's do) A. Mercantilism I. The range of products made or grown for export would depend upon the relative availability of different factors in each country. B. Theory of Absolute Advantage II. Gold and silver are the mainstay of national wealth C. Theory of Comparative Advantage III. Countries should specialize in the production of goods for which they have absolute advantage D. Factor Endowment IV. Nations should produce those goods for which they have the greatest relative advantage Choose the correct answer from the options given below:
- The 'Leontiff Paradox' is in contradiction of which of the following theory ?
- Consider the following concepts :
I. Leontief paradox
II. Linder Hypothesis
Which among the following can be treated as exception to the conclusions of the Heckscher-Ohlin theory ? Answer from the codes below :
Codes :
