question_answer 2)

Outsourcing a part of or entire production and concentrating on marketing operations in international business is known as (a) Licensing (b) Franchising (c) Contract manufacturing (d) Joint venture

Answer:

(c) Contract manufacturing refers to a type of outsourcing in international business where a firm enters into a contract with one or a few local manufacturers in foreign countries to get certain components or goods produced as per its specifications.