When a firm has been making goods and services in-house, and then decides to buy these goods and services from suppliers, it is called _____.
A) outsourcing
B) domestic manufacturing
C) global farming
D) offshoring
E) insourcing

Question

Quizplus · Accepted Answer

Outsourcing refers to the practice of obtaining goods or services from an external supplier, which is what occurs when a firm decides to buy goods and services from suppliers instead of producing them in-house.

When a Firm Has Been Making Goods and Services In-House