International Outsourcing Involves

question 16

Multiple Choice

International outsourcing involves:

• A)Offshoring.
• B)Onshoring.
• C) Reshoring.
• D) Captive sourcing.

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Definitions:

Opportunity Cost

The loss of potential gain from other alternatives when one alternative is chosen.

Leisure Time

Time available for ease and relaxation, where no work-related duties are expected, allowing for personal preferences in activities.

Marginal Productivity

The additional output resulting from the use of one more unit of a factor of production, holding other factors constant.

Labor-saving

Technologies or methods that decrease the amount of work required to produce goods or services, often leading to increased efficiency.