Match List I with List II List I (Theories of International Trade)List II (Propounder (s)) (a) Theory…
Adam Smith is associated with absolute advantage, Heckscher and Ohlin with factor proportions, and Linder with country similarity. Vernon is associated with the…
Choose your answer
Match List I with List II
| List I (Theories of International Trade) | List II (Propounder (s)) |
|---|---|
| (a) Theory of Absolute Advantage | (i) Raymond Vernon |
| (b) Factor Proportion Theory | (ii) Staffan Linder |
| (c) Country Similarity Theory | (iii) Heckscher Ohlin |
| (d) Product Life Cycle Theory | (iv) Adam Smith |
Answer and explanation
Correct answer C
Adam Smith is associated with absolute advantage, Heckscher and Ohlin with factor proportions, and Linder with country similarity. Vernon is associated with the international product life-cycle theory. The matching is (a)-(iv), (b)-(iii), (c)-(ii), (d)-(i).
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Andhra Pradesh SET (APSET)