An industry uses cheap overseas labour for assembling products. This lowers the price for consumers and is an example of:
A) licensing.
B) joint venture.
C) outsourcing.
D) franchising.
E) None of these.

Question

Quizplus · Accepted Answer

Outsourcing involves hiring another company or individual to perform a task or service. In this case, the industry is outsourcing its labor to a foreign country to reduce costs and offer a lower price to consumers. This is a common strategy used by many industries to remain competitive in the global market.

An Industry Uses Cheap Overseas Labour for Assembling Products