Across
- 6. Theory that production location shifts as products mature
- 8. Benefit enjoyed by firms that enter an industry early
- 11. Specializing in goods produced relatively more efficiently
- 13. Government policies that shield domestic industries from foreign competition
- 14. Model explaining national competitive advantage with four determinants
- 15. Porter’s determinant referring to the nature of home market demand
Down
- 1. Framework emphasizing scale economies in shaping trade
- 2. Total amount of land, labor, capital, and resources a country possesses
- 3. When a country is more efficient than others at producing a good
- 4. Theory that links trade patterns to differences in factor endowments
- 5. Situation where governments do not restrict trade with tariffs or quotas
- 7. Theory that argues countries should maintain a trade surplus by exporting more than they import
- 9. Economist who proposed specialization based on relative efficiency
- 10. Empirical finding that contradicted Heckscher-Ohlin predictions
- 12. Cost advantages from producing at large scale