The practice of selling goods overseas and often below the cost of production is known...
ECONOMICS
JAMB 2002
The practice of selling goods overseas and often below the cost of production is known as
- A. retailing
- B. dumping
- C. internal trade
- D. advertising
Correct Answer: B. dumping
Explanation
In economics, dumping is a kind of predatory pricing, especially in the context of international trade. It occurs when manufacturers export a product to another country at a price either below the price charged in its home market or below its cost of production.
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