Identify the theory that argues that advanced nations have an incentive to develop new consumer products and hence such nations always tend to create a good or service for the first time.
A) absolute advantage
B) Ricardo
C) product life-cycle
D) Heckscher-Ohlin

Question

Quizplus · Accepted Answer

The theory argues that the wealth of advanced countries such as the United States gives them an incentive to develop new consumer goods. Such nations always develop new products.

Identify the Theory That Argues That Advanced Nations Have an Incentive