Define Outsourcing. Which types of activities are outsourced?

OR

Define Quinary activities. Describe its features and importance.

Outsourcing is when work is given to an external agency in order to improve efficiency and reduce costs. The following activities are outsourced-

a. Information technology

b. Human resources

c. Customer services

d. Call centre support

e. Manufacturing/engineering

OR

Services that focus on the creation, rearrangement and interpretation of new and existing ideas, data interpretation and the use of new technology are known as quinary activities.

a. They are gold collar professions.

b. They are special jobs which require a range of skills and are high-paying as well. They are performed by government officials, financial official, and consultants.

c. The structure of advanced economies is based on them.