ABC Manufacturing, a USA based company, buys products from China for sale in U.S. markets. This practice refers to which of these?a) Importingb) Insourcingc) Exportingd) Franchising

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19-12-2022
Business

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ABC Manufacturing, a USA based company, buys products from China for sale in U.S. markets. This practice refers to which of these?a) Importingb) Insourcingc) Exportingd) Franchising

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BhavikaKukreja BhavikaKukreja · Answer 1 · 2022-12-24T03:37:14-05:00

This practice refers to importing. Importing refers to the act of bringing goods or services into a country from a foreign source. In this case, ABC Manufacturing is importing products from China for sale in the U.S. market.

Insourcing refers to the act of hiring a company or individual to perform a task that is normally done in-house. Exporting refers to the act of sending goods or services to a foreign market.

Franchising refers to a business model in which a company grants the right to use its brand, products, and business model to an individual or company in exchange for a fee.

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