Practicing Success

Target Exam

CUET

Subject

General Test

Chapter

General Knowledge

Topic

Economics

Question:

"Company hiring regular service from external sources" is an example of which of the following options?

Options:

Privatisation

Liberalization 

Outsourcing 

Promotion

Correct Answer:

Outsourcing 

Explanation:

In outsourcing, a company hires regular service from external sources, mostly from other countries, which was previously provided internally or from within the country (like legal advice, computer service, advertisement, security — each provided by respective departments of the company). This is one of the important outcomes of the globalization process.