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Trade

About the game

The Heckscher-Ohlin trade theory is about how two countries can get greater gains from trading with each other if they have different resources – one have more labor and the other have more capital (that is technical equipment and machinery).
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The Nobel Prize

The 1977 Prize in Economics was awarded for a theory showing that countries engage in and benefit from trade if their production resources differ from each other.
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Reading

Why Trade? »

Trade is presented with the support of the Riksbank.
Bank of Sweden
TO CITE THIS PAGE:
MLA style: "Trade". Nobelprize.org. 3 Sep 2010 http://nobelprize.org/educational/economics/trade/