_______ theory of international trade suggests that the production of products is likely to switch from advanced countries to developing countries over time.

Question

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The theory of product life-cycle suggests that the production of products is likely to switch from advanced countries to developing countries over time. This is due to the fact that as products mature and become more standardized, the focus shifts from innovation and differentiation to cost reduction and efficiency. Developing countries, with their low labor costs and abundant resources, often become more competitive in these types of industries as they offer lower production costs.

_______ Theory of International Trade Suggests That the Production of Products