Match List-I and List-II. List-I (International trade Theory) List-II (Associated economist) P Factor…
The correct matching is P-(iii), Q-(iv), R-(i), S-(ii). The factor-abundance theory is associated with Heckscher and Ohlin, the imitation-gap theory with Posner, and the…
Choose your answer
Match List-I and List-II.
| List-I (International trade Theory) | List-II (Associated economist) |
| P Factor Abundance Theory | (i) Raymond Vernon |
| Q Imitation Gap Theory | (ii) W.W. Leontief |
| R Product Cycle Theory | (iii) Heckscher-Ohlin |
| S Factor Intensity Reversals | (iv) M.V. Posner |
Answer and explanation
Correct answer D
The correct matching is P-(iii), Q-(iv), R-(i), S-(ii). The factor-abundance theory is associated with Heckscher and Ohlin, the imitation-gap theory with Posner, and the product-cycle theory with Vernon. Factor-intensity reversals concern changes in the relative capital or labour intensity of goods when factor prices change.
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Jammu & Kashmir and Ladakh SET (JKSET/LASET)