According to the International Product Life Cycle Theory,the Country(ies)most Likely

question 33

Multiple Choice

According to the International Product Life Cycle Theory,the country(ies) most likely to manufacture a product that has been recently developed (one that is the result of a brand-new design and uses patented technology) and is in its first commercialization year,is (are)

• A) the country of innovation only.
• B) developing countries.
• C) any country with the manufacturing technology necessary to manufacture it.
• D) other developed countries.
• E) None of the above

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Definitions:

Downward-sloping

Downward-sloping describes a curve or line on a graph that exhibits a decline from left to right, often used to illustrate decreasing prices or quantities in economics.

Demand Curve

A graphical representation showing the relationship between the price of a good and the quantity demanded by consumers at various prices, typically downward sloping.

Marginal Utility

The shift in happiness or benefit a person receives from using one more unit of a particular product or service.

All-you-can-eat

A service often provided by restaurants where customers can consume as much food as they want for a fixed price.