Question

Purchasing a product or service from an outside contractor that had been previously provided internally is called A. outsourcing B. transaction costing. C. vertical integration D. horizontal integration E. geographic integration

Answer 1

Answer:

A. outsourcing

Explanation:

Outsourcing is a business practice in which a company or business organization hires a third party that is not part its member of staff to carry out job functions on its behalf, instead of using its own employees. This practice has become a common trend over time in human resources as one of the effective ways of cutting costs in running a business.

Answer 2

Answer: A outsourcing

Explanation:

Outsourcing is the business practice of employing an outsider to a company to execute a project such as provision of goods and services which is initially being produced by the same company.