When a firm produces some of the parts or components that it uses in its products,in its own plants abroad,the process is known as:

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Offshoring refers to the practice of a company producing some of the parts or components that it uses in its products in its own plants abroad. Outsourcing, on the other hand, refers to the practice of contracting or delegating a business process or function to an external third-party service provider. Globalization refers to the increasing interconnectedness and interdependence of the world's economies. Dumping refers to the practice of selling goods or services in a foreign market at below their cost of production.

When a Firm Produces Some of the Parts or Components