Final answer:
Nearshoring is when a business works with partners outside the country but in the same geographic region, which differentiates from offshoring and outsourcing, other methods for reducing costs.
Step-by-step explanation:
Nearshoring refers to the practice of a business conducting operations or partnering with companies that are located in the same geographic region but outside the company's own country. So, in response to the question, nearshoring is business done with partners 'c. Outside the country, but in the same geographic region.' It is distinct from offshoring, where a company moves operations overseas to access cheaper labor markets, and from outsourcing, which involves hiring outside contractors to perform tasks that a company used to handle internally. Nearshoring can benefit businesses by reducing transportation and operating costs while maintaining proximity to their home markets, enhancing logistics and communication.