What Is the Difference Between "Offshoring" and "Outsourcing"? Provide an Example

question 83

Short Answer

What is the difference between "offshoring" and "outsourcing"? Provide an example of each.

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Definitions:

LRMC

Long-Run Marginal Cost, which is the increase in cost a company faces to produce one additional unit of output when all factors of production are variable.

Infer High Quality

Deduce or conclude (information) to be of superior standards or excellent nature.

Promotional Campaigns

Marketing efforts aimed at increasing awareness or sales of a product or service through specific strategies and messaging.

Acquired

Something obtained, typically by a company purchasing another company or business.