Define the following terms (a) Outsourcing (b) Quota

1.	Define the following terms (a) Outsourcing (b) Quota
Answer» (a) Outsourcing: Hiring of regular service from external sources, mostly from foreign countries, which was previously provided internally or from within the country is known as outsourcing. (b) Quota : Quantitative restrictions on imports for the protection of the domestic firms from foreign competition. Under this quantity of goods which can be imported is specified by the state.

Answer»

(a) Outsourcing: Hiring of regular service from external sources, mostly from foreign countries, which was previously provided internally or from within the country is known as outsourcing.

(b) Quota : Quantitative restrictions on imports for the protection of the domestic firms from foreign competition. Under this quantity of goods which can be imported is specified by the state.

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Define the following terms (a) Outsourcing (b) Quota

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