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TEA [102]
3 years ago
7

Techup inc., a manufacturer of computer chips, hires an external specialist agency to perform background checks of its new emplo

yees. by doing this, techup ensures quality service and saves both time and labor costs. this scenario illustrates the concept of _____.
Business
1 answer:
OleMash [197]3 years ago
6 0
<span>This scenario illustrates the concept of "outsourcing".
</span>
Outsourcing (likewise in some cases alluded to as "contracting out") is a business practice which is utilized by organizations and companies to decrease costs or enhance effectiveness by moving undertakings, tasks, occupations or procedures to an outside contracted third party for a specific time frame. The functions that are contracted out by the outsider or third party can be performed either on location or offsite of the work.
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Barriers to trade reduce the amount of output that can be supplied by foreign companies and, as a result, cause prices in the ma
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Barriers to trade reduce the amount of output that can be supplied by foreign companies and, as a result, cause prices in the market to be higher than they would otherwise be. This results in consumers buying less

<h3>What are barriers to trade?</h3>

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These trade barriers are launched to support small-scale business and introducing jobs in the industries to prevent unemployment.

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