Final answer:
Nearshoring is a business practice where companies outsource operations to countries that are geographically close, specifically outside the country but in the same region. The student's question pertains to what nearshoring involves, and the correct selection is 'c. Outside the country, but in the same geographic region'.
Step-by-step explanation:
Nearshoring refers to the business practice where companies outsource work to partners in countries that are close by, especially in the same geographic region. This is an alternative to offshoring, where companies move operations to distant countries to benefit from cheaper labor markets. The student is asking about what nearshoring entails, and the correct answer is c. Outside the country, but in the same geographic region. Nearshoring is seen as a balance between outsourcing tasks and maintaining a degree of proximity that can offer various advantages such as similar time zones, cultural affinity, and easier logistics.
Nearshoring can increase the level of trade between neighboring countries without significantly impacting the trade imbalance. It is a strategy that has grown in popularity as companies in developed countries have sought to reduce costs while maintaining more control over their operations compared to offshoring, where distance can introduce complexities such as communication barriers and longer supply chains.