__________ theory further developed the imitation-gap approach by suggesting that changes occur in the input requirements of a new product as it becomes established in a market and standardized in production.
A) Vernon's
B) Adam's
C) Leontief
D) Heckscher-Ohlin

Question

Quizplus · Accepted Answer

Vernon's theory of international product life cycle suggests that a new product goes through three stages: new product, maturing product, and standardized product. During these stages, input requirements change as the product becomes established in a market and standardized in production. This is known as the imitation-gap approach, which was further developed by Vernon. Adams, Leontief, and Heckscher-Ohlin do not deal with this specific concept.

__________ Theory Further Developed the Imitation-Gap Approach by Suggesting That