What are factor endowment implications, Business Economics

What are factor endowment implications?

Implications of factor endowment:

• Less Developed Countries to specialise and export labour intensive goods, agriculture or commodities. Conversely labour intensive goods have low value added therefore low wages while agriculture goods have low YED and PED

• Enhancing the productivity of factor inputs by better knowledge, skill and training generates growth thus development.

Posted Date: 8/29/2013 6:53:22 AM | Location : United States







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