________ Refers to Contracting with Specialists to Perform Business Functions

question 51

Multiple Choice

________ refers to contracting with specialists to perform business functions.

• A) Offshoring
• B) Outsourcing
• C) Green field venturing
• D) Blue ocean strategy

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Definitions:

Recession

A spell of economic retrenchment characterized by a reduction in manufacturing and trade activities, typically signified by two successive quarters of GDP decline.

Inflation

How quickly the average cost of goods and services goes up, resulting in a decrease in the ability to purchase.

Economic Growth

A rise in the output of goods and services in an economy over a certain period, frequently assessed using GDP.

Federal Budget Deficit

The financial situation where the federal government's expenditures exceed its revenues within a given fiscal year.