What is Dumping ?
Correct answer: C. Sale of goods in large quantities and at a low price
- A. Sale of goods in large quantities with high quality
- B. Sale of goods in large quantities with low quality
- C. Sale of goods in large quantities and at a low price
- D. Sale of goods in large quantities with high price
Explanation
Dumping occurs when goods are exported and sold at an unusually low price, often below their normal value or domestic price. The low price, rather than quality, is the defining feature.
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Individual consumers, firms and markets are examined through demand and supply, elasticity, consumer choice, production, costs, revenue and the determination of prices and output. The topic also covers market structures such as perfect competition, monopoly and oligopoly, plus market failure, externalities and the distinction between microeconomic decisions and economy-wide outcomes.
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