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Author Question: Explain the Heckscher-Ohlin theorem. What will be an ideal ... (Read 70 times)

Diane

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on: Jun 29, 2018
Explain the Heckscher-Ohlin theorem.
 
  What will be an ideal response?

Question 2

What is a commitment device?
 
  What will be an ideal response?


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mohan

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Reply #1 on: Jun 29, 2018
Answer to Question 1

The Heckscher-Olin theorem is a theory that explains the existence of a country's comparative advantage by its factor endowments. A country has a comparative advantage in the production of a product if that country is relatively well endowed with inputs used intensively in the production of that product.

Answer to Question 2

A commitment device represent actions that individuals take in one period to try to control their behavior in a future period.


Diane

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

laurnthompson

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Reply 3 on: Yesterday
Excellent

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