What is a multinational corporation (MNC)?

A multinational corporation (MNC) is characterized by having facilities and other assets in at least one country outside of its home nation. This definition highlights the essential aspect of an MNC, which is its ability to conduct business operations across multiple countries.

MNCs typically manage production or deliver services in more than one country, which allows them to tap into new markets, optimize production efficiency, and leverage resources effectively. This international presence distinguishes them from other types of companies, such as those that operate solely within their home country or have limited international engagement.

The other options describe different types of business operations. For instance, a corporation that only operates within its home country or has facilities solely in its home country indicates a domestic corporation rather than a multinational. Additionally, a small business with international partners does not qualify as an MNC unless it also maintains operations or significant assets in foreign countries. Thus, the focus on having facilities and assets in multiple countries is what makes option C the correct definition of a multinational corporation.