State whether true or false.

An MNC is a company that owns or controls production in more than one country.

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True

False

answer is A.

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Detailed Solution

The above statement is true.
Multinational Corporations are companies that operate and control the production of goods and services in more than one country. These are large-sized corporations that set up production houses and offices in different countries across the globe. These big corporations produce their goods in those countries where labour and raw materials can be readily available at low prices. These companies look for cheap inputs to reduce their cost of production and maximise their profits. MNCs often buy domestic companies and promote small industries. For example, garments and footwear in India. Multinational Corporations have complex production processes. They spread out production across borders.

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