According to the textbook,historically the product-life-cycle theory is an:

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According to the textbook, the product-life-cycle theory is an accurate explanation of international trade patterns. It explains how products are first produced in and exported from the country where they were invented, then production moves to other countries, and eventually, the original country imports the product. This pattern has been observed in many industries, including automobiles, televisions, and semiconductors. The theory is not specifically related to manufactured goods, and it is not universally applicable to all countries, but it is generally considered a valid explanation for international trade patterns.

According to the Textbook,historically the Product-Life-Cycle Theory Is An