Final answer:
ABC Manufacturing buying firefighting hose pipes from NBC Hosepipes in India is an example of importing. Outsourcing involves hiring another company to perform certain tasks, and offshoring is about moving company operations overseas to cut costs.
Step-by-step explanation:
When ABC Manufacturing, a Canadian company, regularly buys firefighting hose pipes from NBC Hosepipes in India, this activity is an example of importing. Importing occurs when a country or company purchases goods or services from another country, bringing them into the buyer's home country. In contrast, exporting is the selling of products and services from the home country to customers in foreign countries.
Outsourcing is the practice of hiring another company to perform tasks, handle operations or provide services that are either usually executed or had previously been done in-house by the company's own employees. Offshoring, on the other hand, refers to relocating business processes or production of a company from one country to another, typically to leverage cost efficienciesAn example illustrating these concepts is the shift in manufacturing, such as clothing corporations moving their factories from the U.S. to China, which demonstrates offshoring. This trend has been influenced by global assembly lines where products are assembled across borders, with components made in various nations and services such as tech support being outsourced to countries like India.The action of ABC Manufacturing regularly buying firefighting hose pipes from NBC Hosepipes in India is an example of importing. Importing refers to the practice of bringing goods or services into a country from another country. In this case, ABC Manufacturing is purchasing firefighting hose pipes from a company located outside of Canada.