Product cycle theory


 

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Product cycle theory

Theory suggesting that a firm initially establish itself locally and expand into foreign markets in response to foreign demand for its product; over time, the MNC will grow in foreign markets; after some point, its foreign business may decline unless it can differentiate its product from competitors.



Product cycle theory

Similar Matches

Nonproduction worker

Nonproduction worker

A worker not directly engaged in production. In empirical studies of skilled and unskilled labor, data on nonproduction workers are often taken to represent skilled labor.


Gross domestic product

Gross domestic product

The value of all goods and services created within an economy. It equals gross national product minus income from abroad.


Gross national product

Gross national product

The total value of new goods and services produced in a given year by a country's domestically owned factors of production, regardless of where. It is "gross" in the sense that it does not deduct depreciation of previously produced capital, in contrast to NNP.


Production possibility frontier

Production possibility frontier

A diagram showing the maximum output possible for one good for various outputs of another (or several others), given technology and factor endowments. Also called a transformation curve or production possibility curve.


Net national product

Net national product

Gross national product minus depreciation. This is the most complete measure of productive activity by a country's nationals, though its accuracy suffers from the difficulty of measuring depreciation.


Further Suggestions

Factor of production
Neighborhood production structure
Production worker
Productivity
Product differentiation
Value marginal product
Product
Product Differentiation
Gross domestic product (GDP)
Product cycle
Production possibilities schedule
Industrial production
Product cycle
Production possibility curve
Marginal product
Total factor productivity
Average product
Gross domestic product
Production externality
Productivity
Production Cost Advantage
Labor productivity
protected investment products
Current production rate
Neoclassical production function


 
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