The model of producer development by which firms steadily upgrade the quality of their products. Movement up the quality ladder includes making products more reliable and improving their specifications and design. In the process a product changes from being a cheap line aiming at the lower end of the market, to being a superior article aimed at more sophisticated and better-off consumers. This process is associated with the development of newly industrialized countries (NICs).

• executive, chief
• exercise price
• exhaustible resources
• Eximbank
• exit
• exit, freedom of
• exit price
• exogenous expectations
• expectations
• expectations-augmented Phillips curve
• expectations, model-consistent
• expected inflation
• expected utility
• expected value
• expenditure
• expenditure-based deflator
• expenditure changing
• expenditure method
• expenditure, public
• expenditure switching
• expenditure tax
• exploitation
• exponent
• exponential
• exportables