Critics of Offshoring Assert That the Short-Term Cost Savings Derived

question 16

True/False

Critics of offshoring assert that the short-term cost savings derived from offshoring hinder firms from developing more efficient production methods.

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Definitions:

GATT

stands for the General Agreement on Tariffs and Trade, an international treaty created to reduce trade barriers and promote international trade through the reduction of tariffs and quotas.

Quantitative Restriction

A limit on the importation of certain goods that is imposed on the basis of number of units, weight, or value for national economic reason, or for the protection of domestic industry; prohibited by GATT.

Forum Non Conveniens

A legal doctrine allowing courts to dismiss a case if another court or forum is more suited to hear the case, usually due to convenience factors.

Personal Jurisdiction

Refers to a court's authority over the parties involved in a legal case.