Heckscher-Ohlin theory of international trade begins where the Ricardian theory of international trade ends. Elucidate.

Absolutely, the Heckscher-Ohlin (H-O) theory builds upon the foundations laid by the Ricardian theory of international trade. While the Ricardian theory primarily focuses on differences in technology as the sole determinant of comparative advantage, the H-O theory expands this analysis by considering differences in factor endowments among countries.

The Ricardian model suggests that countries specialize in producing goods where they have a comparative advantage due to differences in technology. However, it assumes that labor is the only factor of production and that technology differences are the sole reason for trade. In contrast, the H-O theory recognizes that countries ____ _______ ___ ______ ________ ______ ________ _____ ________ __________.
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