They define the Efficiency of production as the amount of output that can be produced with a given amount of inputs. Economists speak of this in terms of inputs and outputs.

Lead to differing costs of production among nations. Natural Resources Human Resources Capital, and Technology International Trade Theory Starting with Why Nations Trade, and Ending with a discussion of the Benefits to Trade.

1 International Trade Theory To provide their citizens with an Increased Standard of Living Countries experience unequal endowments of resources.