Statement (I) Trade between two countries takes place on account of differences is costs. Statement (II) Different countries have different factor endowments.

Question

Statement (I) Trade between two countries takes place on account of differences is costs.  Statement (II) Different countries have different factor endowments.

Examsnet · Accepted Answer

Correct Answer is :  Both Statement (I) and Statement (II) are individually trueand Statement (II) is the correct  explanation of Statement (I)

EPFO 2015 English Medium Solved Paper