Asked by Faith Mwasha on May 17, 2024
Verified
The sending of work or jobs to another country to cut a company's costs at home is called
A) globalization.
B) deindustrialization.
C) offshoring.
D) reskilling.
Offshoring
Sending work or jobs to another country to cut a company’s costs at home (sometimes called international outsourcing and offshore outsourcing).
Work
The exertion of effort towards achieving a goal, completing tasks, or generating products or services, which may be compensated through wages or other forms of payment.
Jobs
Positions of employment where individuals are compensated for their labor or services by an employer.
- Discuss the concept of offshoring and its implications for domestic and global labor markets.
Verified Answer
SS
Shelby SoulliereMay 18, 2024
Final Answer :
C
Explanation :
Offshoring refers to the practice of moving jobs to a different country, typically to take advantage of lower labor costs or other financial incentives. This can result in significant cost savings for the company involved, but it can also lead to job losses for workers in the company's home country. Globalization refers to the broader trend of increased connectedness between countries and economies, while deindustrialization refers to the decline of manufacturing and other industries within a particular country or region. Reskilling refers to the process of learning new skills or adapting to new job requirements, often in response to automation or other technological changes in the workforce.
Learning Objectives
- Discuss the concept of offshoring and its implications for domestic and global labor markets.