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:

Rapidly Accelerating Rate

A pace of change or growth that is increasing quickly over time.

Connected Economy

An economic environment where businesses, devices, and individuals are interconnected through digital technologies, facilitating seamless interactions and transactions.

Blur

is to make or become unclear or less distinct, often used metaphorically to describe a lack of clarity or precision in thought, vision, or distinction.

Entirely New Transformations

Radical changes or innovations that significantly alter the way something is conducted or perceived.