Economics · History of Economic Thought
Arrange the following developments in the evolution of international trade theory in the correct chronological order: 1. Heckscher-Ohlin factor endowments theory 2. Adam Smith's Absolute Advantage theory 3. Krugman's New Trade Theory and economies of scale 4. Ricardo's Comparative Advantage theory 5. Haberler's Opportunity Cost / PPF framework
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- 12-1-4-5-3
- 24-2-1-5-3
- 32-4-5-1-3✓
- 42-4-1-5-3
Correct answer
2-4-5-1-3
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