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Match List I with List IIList I: Authors of Trade TheoryList II: Name of Theory(A) Steffan Linder(I) Product Life Cycle Theory (B) Raymond Vernon (
Question

Match List I with List II

List I: Authors of Trade Theory
List II: Name of Theory
(A) Steffan Linder
(I) Product Life Cycle Theory
(B) Raymond Vernon
(II) Country Similarity Theory
(C) Heckscher-Ohlin
(III) Absolute Advantage Theory
(D) Adam Smith
(IV) Factor Proportion Theory

Choose the correct answer from the options given below:

A.

(A)-(IV), (B)-(III), (C)-(II), (D)-(I)

B.

(A)-(II), (B)-(I), (C)-(IV), (D)-(III)

C.

(A)-(I), (B)-(III), (C)-(IV), (D)-(II)

D.

(A)-(III), (B)-(II), (C)-(I), (D)-(IV)

Correct option is B

· Steffan Linder proposed the Country Similarity Theory, which explains trade between countries with similar economic structures.
· Raymond Vernon developed the Product Life Cycle Theory, explaining how products evolve from innovation to standardization.
· Heckscher-Ohlin introduced the Factor Proportion Theory, stating that countries export goods that utilize their abundant resources.
· Adam Smith formulated the Absolute Advantage Theory, emphasizing that nations should produce goods in which they are most efficient.

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