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Specific sources of comparative advantage

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Reference no: EM132946444

The Standard Model of Trade is a general model that accommodates other models which reference specific sources of comparative advantage, e.g. Ricardian model (differences in labour effectiveness) and Heckscher-Ohlin model (references 'factors of production').

There are four key relationships upon which the Standard Model is based. Please list each of the four relationships and give one example for each.

Reference no: EM132946444

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