Identify Three Goals of Outsourcing a Particular Product or Service

question 21

Essay

Identify three goals of outsourcing a particular product or service.

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Definitions:

Net Income

The amount of earnings left over after all expenses and taxes have been deducted from total revenue.

Revenue

The total amount of money received by a company for goods sold or services provided during a certain time period.

Break-Even Point

The break-even point is the point at which total costs and total revenues are equal, meaning there is no net loss or gain.

Variable Costs

Costs that vary depending on the level of production or sales.