UGC NET COMMERCE January 2017(Paper-II) Q47
0. Match the items of List-I with List-II and indicate the correct code.
| List–I | List–II |
| (a) Absolute Cost Advantage Theory | 1. The empirical evidence based on US export of labour intensive goods challenging the factor endowment theory. |
| (b) Comparative Cost Advantage Theory | 2. A country having a direct cost advantage in the production of a product on account of greater efficiency. |
| (c) Factor Endowment Theory | 3. A country should produce and export a commodity that primarily involves a factor of production abundantly available within the country. |
| (d) Leontief Paradox | 4. A country should specialize in the production and export of a commodity in which it possesses greatest relative advantage. |
CODES
| (a) | (b) | (c) | (d) | |
| 1 | 2 | 4 | 3 | 1 |
| 2 | 2 | 4 | 1 | 3 |
| 3 | 2 | 1 | 3 | 4 |
| 4 | 1 | 4 | 3 | 2 |
