Asked by Haylee Green on May 01, 2024
Verified
"Offshoring" refers to
A) importing goods, services, and resources.
B) stashing money in offshore accounts for the purpose of avoiding taxes.
C) shifting work overseas that was previously done domestically.
D) exporting key resources.
Offshoring
The practice of moving a part of a company's operations or business processes to another country to reduce costs or take advantage of favorable conditions.
- Comprehend the notion of offshoring and its effects on the economy.
Verified Answer
ZK
Zybrea KnightMay 04, 2024
Final Answer :
C
Explanation :
Offshoring specifically refers to shifting work or jobs from a domestic location or country to an overseas location or country to take advantage of lower labor costs and other benefits, such as tax breaks, cheaper infrastructure or resources, and access to global markets. Importing, stashing money in offshore accounts, and exporting resources are all different topics that do not fall under the definition of offshoring.
Learning Objectives
- Comprehend the notion of offshoring and its effects on the economy.
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