Home > Term: quantity definition
quantity definition
A method of defining relative factor abundance based on ratios of factor quantities: Compared to country B, country A is abundant in factor X relative to factor Y iff XA/YA > XB/YB, where IJ is the quantity of factor I with which country J is endowed, I=X,Y, J=A,B.
- Part of Speech: noun
- Industry/Domain: Economy
- Category: International economics
- Company: University of Michigan
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Creator
- Noroc
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