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International Business - I
Question
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Give meaning of contract manufacturing.

Answer

Contract manufacturing refers to a type of 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.

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Some More Questions From International Business - I Chapter

__________ industry makes use of  products which are extracted and produced by primary sector as their raw material and produce finished products.

Define “global village”.

Give meaning of International Business.

Give the types of mode of entry into International Business.

Give meaning of merchandise export and import.

Give meaning of service exports and imports.

Give meaning of direct exporting.

Give meaning of direct importing.

Give meaning of contract manufacturing.

Give meaning of licensing and franchising.