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Economics: Difference between revisions
→Week 37 - Modern trade theories, trade policy: sourcing definition of Product life-cycle theory from WIkipedia
(→Home exam: linking to the correct w:product life-cycle theory) |
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== Week 37 - Modern trade theories, trade policy == | == Week 37 - Modern trade theories, trade policy == | ||
* '''Vernon's [[w:Product life-cycle theory|Product life-cycle theory]]''' | * '''Vernon's [[w:Product life-cycle theory|Product life-cycle theory]]''' is an economic theory that was developed by Raymond Vernon in response to the failure of the [[w:Heckscher-Ohlin model|Heckscher-Ohlin model]] to explain the observed pattern of [[w:international trade|international trade]]. The theory suggests that early in a product's life-cycle all the parts and labor associated with that product come from the area in which it was invented. After the product becomes adopted and used in the world markets, production gradually moves away from the point of origin. ( Wikipedia ) | ||
== Week 38 - No class, work on report == | == Week 38 - No class, work on report == | ||