Practicing Success

Target Exam

CUET

Subject

Economics

Chapter

Indian Economic Development: Liberalisation, Privatisation and Globalisation - An Appraisal

Question:
Which outcome of globalization involves hiring services from external sources, mostly from other countries?
Options:
Outsourcing
Offshoring
Insourcing
All of the above
Correct Answer:
Outsourcing
Explanation:
Outsourcing is an important outcome of globalization where a company hires services from external sources, often from other countries, that were previously provided internally or within the country. It involves seeking services such as legal advice, computer services, advertisement, security, and more from external providers.