According to the Product Life Cycle Theory, Comparative Advantage Shifts

question 51

True/False

According to the product life cycle theory, comparative advantage shifts from cheap-labor countries to high-technology countries after a manufactured good becomes standardized.

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Definitions:

Rotate

The act of turning or spinning on an axis.

Inventory List

A comprehensive list detailing all items or stock held by a business or organization for operational purposes.

Storage

The process or method by which items or data are kept in a safe or appropriate place until they are needed.

Comparison Shopping

The practice of comparing prices and characteristics of similar products or services before making a purchase.