factors in determining products.......domestically of from another country?

Question

yeah....i have a problem here that i need help solving.......what factors should people consider on whether or not a product should be produced domestically or from another country?.....thanks lots

Answer 1

The International Product Life Cycle (IPLC) theory is:

The life cycle starts when one developed country has a product to sell and decides it wants to sell abroad. This, in turn, gets more advanced countries out into the field, starting up production facilities. Efficiency/Comparative advantage shifts from developing countries to developing nations. When no longer cost-effective, advanced nations have to import from their former customers.

The article I found might do you more good than me trying to break it down into shortened answers.

I hope this is what you are looking for anyway.