According to the Product Life Cycle Model,comparative Advantage Shifts from Cheap-Labor

question 138

True/False

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

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Definitions:

Board of Directors

A group of individuals elected by the shareholders to oversee the activities and governance of a corporation.

Corporate Powers

Legal authorities and capacities granted to a corporation by law, including entering into contracts, owning assets, and issuing stock.

Businessperson

An individual actively involved in the business world, especially in activities related to operating, managing, or investing in businesses.

Contract

A legally enforceable agreement between two or more parties that creates mutual obligations.