A situation in which a commodity is sold abroad below its cost of production in...
ECONOMICS
JAMB 2020
A situation in which a commodity is sold abroad below its cost of production in the home country is known as?
- A. dumping
- B. counter trade
- C. bilateral trade
- D. trade liberalization
Correct Answer: A. dumping
Explanation
Dumping is a term used to describe a market situation where an exporter firm sells its product in an international market for a price lesser than its cost of production in the home country.
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