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What has been a major feature of successful businesses in the past decade ?
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- Parcelling out the components for production at the cheapest cost worldwide
- Subsidies to protect domestic production of the goods
- Web-enabled production and trade
- Lowering the tax slabs to make trade competitive
- Parcelling out the components for production at the cheapest cost worldwide
Correct Option: A
Outsourcing of production and services has been one of the main features of businesses in the last two decades. With the dismantling of trade barriers and opening up of economies with a pro-active role played by international bodies such as the World Trade Organization, business has moved from developed to developing worlds because of the cheaper labour rates and cost-advantage determinants.
