The corporate practice of acquiring or producing quality goods or services at a lower cost abroad thereby eliminating domestic production is called _____.

Question

Quizplus · Accepted Answer

The corporate practice described in the question is known as outsourcing. Option B (exporting) refers to the act of selling goods or services from one country to another, while importing (option C) refers to the act of bringing goods or services into a country from abroad. Foreign investment (option D) is when a company invests in a foreign market or country, while trading (option E) refers to the act of buying and selling goods and services locally or internationally.

The Corporate Practice of Acquiring or Producing Quality Goods or Services