When U.S. companies hire workers in India to staff their customer service call centers, they are engaging in
A) predatory pricing.
B) unfair trade practices.
C) outsourcing.
D) labor engagement.
Answer: C
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Suppose early Friday morning the economics club buys 200 donuts at 25 cents each, and plans to sell all of them later in the day on campus for 50 cents each
Only 60 donuts are sold at 50 cents, however, and by early afternoon the club is seen trying to unload the remaining donuts for 10 cents each. What can we conclude? A) The club was clearly engaging in predatory pricing of donuts. B) The club was clearly selling below cost. C) The club clearly misjudged the demand for donuts. D) All of the above are true.
The conceptual measure of the satisfaction a person obtains by consuming all the units of a good or service during a given time period is:
a. total product. b. total revenue. c. total utility. d. total product.
When faced with an economic loss, a competitive firm will exit the industry in the long run
a. True b. False Indicate whether the statement is true or false
Entrepreneurs:
A. include everyone engaged in R&D work. B. are located in small enterprises only. C. differ from other innovators because of the risks entrepreneurs must bear. D. work exclusively in government and university R&D laboratories.