List-I List-II
(a) Absolute cost advantage theory (i) The empirical evidence based on US export of labour intensive goods challenging the factor endowment theory
(b) Comparative cost advantage theory (ii) A country having a direct cost advantage in the production of a product on account of greater efficiency
(c) Factor Endowment Theory (iii) A country should produce and export a commodity that primarily involves a factor of production abundantly available within the country
(d) Leontief Paradox (iv) A country should specialize in the production and export of a commodity in which it possesses greatest relative advantage
  • A
    (a) (b) (c) (d)
    (ii) (iv) (iii) (i)
  • B
    (ii) (iv) (i) (iii)
  • C
    (ii) (i) (iii) (iv)
  • D
    (i) (iv) (iii) (ii)