The ________ theory was based on the observation that for most of the twentieth century a very large proportion of the world's new products had been developed by U.S. firms and sold first in the U.S. market.
A) product life-cycle
B) Heckscher-Ohlin
C) new trade
D) Ricardo

Question

Quizplus · Accepted Answer

Vernon's theory was based on the observation that for most of the twentieth century a very large proportion of the world's new products had been developed by U.S. firms and sold first in the U.S. market. To explain this, Vernon argued that the wealth and size of the U.S. market gave U.S. firms a strong incentive to develop new consumer products.

The ________ Theory Was Based on the Observation That for Most