Nearshore Outsourcing Occurs When Using Organizations from Developing Countries to Write

question 35

True/False

Nearshore outsourcing occurs when using organizations from developing countries to write code and develop systems. In offshore outsourcing the country is geographically far away.

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Definitions:

Marginal Revenue Product

The additional revenue generated from employing one more unit of input, such as labor or capital.

Primary Labor Market

The segment of the labor market that consists of high-paying jobs with good benefits and job security, often requiring higher education or specialized skills.

Economic Rent

The excess payment for a factor of production over its opportunity cost, highlighting the benefits received from a unique advantage or situation.

Demand for Labor

the quantity of workers that employers are willing and able to hire at a given wage rate in a given time period.