The search for low labor costs has led some firms to engage in an international "race to the bottom."

Name: The search for low labor costs has led some firms to engage in an international "race to the bottom."
Brand: Quizplus
Rating: 4.8 (36 reviews)

Question

Quizplus · Accepted Answer

The statement is true. Some firms aim to cut costs by seeking out countries or regions with the lowest labor costs, putting pressure on other firms to also lower labor costs in order to remain competitive. This phenomenon is known as a "race to the bottom."

The Search for Low Labor Costs Has Led Some Firms