Vernon's product life-cycle theory was based on the observation that for most of the 20^th century a very large proportion of the world's new products had been developed by U.S.firms and sold first in the __________ market.

Question

Quizplus · Accepted Answer

Vernon's product life-cycle theory proposed that a large proportion of the world's new products were developed by U.S. firms and first sold in the U.S. market. This was due to the high level of innovation and technological advancement in the United States at that time. Therefore, the correct answer is the U.S. market (Option C).

Vernon's Product Life-Cycle Theory Was Based on the Observation That