Question: 1. (a) What does the H-O theorem postulate? (b) What force does H-O identify as the basic determinant of comparative advantage and trade? (c) In

1. (a) What does the H-O theorem postulate?

(b) What force does H-O identify as the basic determinant of comparative advantage and trade?

(c) In what way does the H-O theory represent an extension of the standard trade model presented in the chapter?

2. (a) What does the factor-price equalisation theorem postulate?

(b) What does the Stopler-Samuelson theorem postulate?

(c) What does the specific-factors theorem postulate?

(d) What is the factor-price equalisation's relationship to the international mobility of factors of production?

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