Asked by Monshadrik Hunter on May 31, 2024
Verified
Describe the economic reasons why businesses use offshoring.
Economic Reasons
The financial or monetarily driven considerations and motivations influencing decisions, policies, or behaviors in an economic context.
Offshoring
The relocation of business processes or manufacturing to a foreign country, typically to leverage lower costs or other benefits.
- Recognize and examine the causes and consequences of relocating production processes abroad.
Verified Answer
ZK
Zybrea KnightJun 04, 2024
Final Answer :
Offshoring is the practice of shifting work previously done by domestic workers to workers located in other nations. In recent years, U.S. firms have found the outsourcing of work abroad to be increasingly profitable. It lowers production costs and keeps them competitive worldwide.
Learning Objectives
- Recognize and examine the causes and consequences of relocating production processes abroad.