The Relevance of the Product Life-Cycle Theory in the Modern

question 30

Multiple Choice

The relevance of the product life-cycle theory in the modern world seems more limited because:

• A)many countries have increasingly invested in the U.S.labor market over the past century.
• B)with the diminishing strength of the U.S.dollar,it loses the ability to generalize trade globally.
• C)it holds true only for the brief U.S.dominance of the global economy.
• D)historically,it has provided inaccurate explanations of international trade patterns.

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Definitions:

Services

are intangible products such as healthcare, education, and financial advice that fulfill consumer needs and wants without resulting in the ownership of physical goods.

Tertiary Sector

The segment of the economy that provides services rather than goods, including industries such as retail, healthcare, and education.

Primary Sector

Refers to the part of the economy that is involved in the extraction and production of raw materials, such as mining, agriculture, and forestry.

Farming

The practice of cultivating plants and livestock to produce food, fiber, and other products.