ABC Manufacturing, a company based in the United States, buys products from China and sells them in U.S. markets. This practice refers to __________.
A) importing
B) insourcing
C) exporting
D) franchising

Question

Quizplus · Accepted Answer

Importing refers to the act of bringing goods or services into one country from another country, which is exactly what ABC Manufacturing is doing by buying products from China and selling them in the U.S. market. Insourcing refers to sourcing goods or services from within a company's own country, while exporting refers to the act of selling goods or services to another country. Franchising is a business model in which a company (the franchisor) grants the right to use its name and operating methods to another company (the franchisee) in exchange for a fee.

ABC Manufacturing, a Company Based in the United States, Buys