The Practice of Using Suppliers in Foreign Countries to Perform

question 9

Multiple Choice

The practice of using suppliers in foreign countries to perform business processes that were previously done in the United States is called

• A) licensing.
• B) adapting.
• C) offshoring.
• D) exporting.
• E) importing.

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Definitions:

Calories

A measure of energy in food, scientifically defined as the amount of energy needed to raise the temperature of 1 kilogram of water by 1 degree Celsius.

Marginal Utility

refers to the additional satisfaction or utility gained from consuming one more unit of a good or service.

Millionaires

Millionaires are individuals whose net worth or wealth is equal to or exceeds one million units of currency.

Budget Line

A graphical representation showing the combination of goods a consumer can purchase and consume within their income level at specific prices.