Asked by razan osman on May 30, 2024
Verified
Acquired comparative advantage comes from factor endowments.
Acquired Comparative Advantage
An advantage a country develops over time in producing certain goods or services, often through investment in education, infrastructure, or technology.
Factor Endowments
The various productive resources (land, labor, capital, and technology) a country possesses, influencing its economic development and trade patterns.
- Absorb the ideas of comparative advantage and factor endowments, including their influence on trade movement.
Verified Answer
KF
Kristi FullerJun 05, 2024
Final Answer :
False
Explanation :
Acquired comparative advantage is developed through a country's investment in certain industries or technologies, not from natural factor endowments like land, labor, or resources.
Learning Objectives
- Absorb the ideas of comparative advantage and factor endowments, including their influence on trade movement.
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