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"No country is abundant in everything." Discuss.

"No country is abundant in everything." Discuss.

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The saying that "No country is abundant in everything" is a relative concept. Different countries in the world have been endowed with different factors of production, may be due to their geographical setting, political choices etc. The concept of factor abundance is thus a relative concept. When we identify a country as being capital abundant, it means that it has more capital per worker than the other countries. This means that if a country has more capital per worker, it cannot have more workers per unit of capital (it is an arithmetic impossibility).

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