Provide answer to the following question(s) using essay format.
Essay format should include an introduction paragraph with a thesis statement, a body, and a conclusion paragraph. The essay should be 2 - 3 pages (750 to 1,000 words) and should include at least (2) academic resources, not including your textbook. Your reader/audience is the general public.
Carefully read question to ensure that each component is answered with the appropriate depth and detail.
Answers should be free of spelling and grammar errors. When you use reference material, must properly cite your sources by using in-text citations. Also include a reference list. All documentation must be rendered in APA citation style (see announcements for details on APA).
Answer the following questions within your essay:
1. Provide an overview of outsourcing. What does it entail?
2. Many U.S. firms have outsourced jobs to China (primarily for manufacturing) and India (primarily for back office duties). Pinpoint a firm or firms that have undertaken such outsourcing. What types of jobs were outsourced?
3. What did the workers and or manufacturers offer that drew these firms away from the U.S. labor market? Describe the benefits firms found in outsourcing.
4. Explain the implications of outsourcing for employment and wages in the domestic and foreign labor markets. What are the implications on product prices in the home country when outsourcing is used?