Asked by Soleil Castaneda on May 12, 2024
Verified
Offshoring benefits some firms by reducing their producing costs and maintaining their global competitiveness.
Offshoring
The practice of shifting work previously done by domestic workers to workers located abroad.
- Gain an insight into the ways trade impacts the economic performance of countries and their competitiveness on a global scale.
Verified Answer
WG
Wendy GrissomMay 15, 2024
Final Answer :
True
Explanation :
Offshoring allows firms to relocate certain business processes or production operations to countries where labor and production costs are lower, thereby reducing overall costs and enhancing their competitiveness in the global market.
Learning Objectives
- Gain an insight into the ways trade impacts the economic performance of countries and their competitiveness on a global scale.