Asked by Daniel Alvarez on Jun 15, 2024
Verified
Globalization of resource markets has resulted in the business practice of offshoring, which involves
A) only an outflow of jobs away from the U.S.
B) no possible expansion of jobs in the U.S.
C) huge losses to consumers in the U.S.
D) both an outflow as well as an inflow of jobs in the U.S.
Globalization
The process of interaction and integration among people, companies, and governments worldwide, often resulting in increased interconnectedness and interdependence.
Offshoring
The relocation of a business process or operation from one country to another, typically for lower costs or other strategic benefits.
Resource Markets
Markets where resources or inputs used to produce goods and services, such as labor, capital, and raw materials, are bought and sold.
- Analyze the effects of globalization on job markets and the practice of offshoring.
Verified Answer
SD
Shawn DowdenJun 17, 2024
Final Answer :
D
Explanation :
Offshoring involves both the relocation of jobs from one country to another (outflow) and the creation of new jobs in the original country due to increased efficiency, cost savings, or the need for higher-skilled positions (inflow). It is not limited to only negative impacts on employment in the U.S. but can also lead to job creation and economic benefits.
Learning Objectives
- Analyze the effects of globalization on job markets and the practice of offshoring.