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21 October, 15:33

Owners of factors specific to export industries suffer from trade, while owners of factors specific to import-competing industries gain b. Owners of factors specific to export industries gain from trade, while owners of factors specific to import-competing industries suffer c. Both owners of factors specific to export industries and owners of factors specific to import-competing industries gain from trade d. Both owners of factors specific to export industries and owners of factors specific to import-competing industries suffer from trade

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  1. 21 October, 19:02
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    b. Owners of factors specific to export industries gain from trade, while owners of factors specific to import-competing industries suffer

    Explanation:

    Statement B is correct,

    Specific factor theory explains the trade in the economy in which on e of the factors of production is specific to the industry.

    As with this the owners in trade specific industries for export tends to gain as they are able to compete with economic trade factors.

    Rather in comparison to them, the owners in the domestic market which produce specific factor goods tend to benefit less, as the company is facing the market where all the producers are industry specific, thus, it will not be beneficial.
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