The practice of selling goods in foreign countries at lower prices than obtainable in the exporting country is known as?

Assessment: WAEC SSCE - Commerce - 1994 (Objective) Subject: Commerce

Question 1 Report

The practice of selling goods in foreign countries at lower prices than obtainable in the exporting country is known as?
Answer Details
The practice of selling goods in foreign countries at lower prices than obtainable in the exporting country is known as "dumping". This may be done by a company or a country with the aim of gaining market share or forcing competitors out of business in the importing country. Dumping can harm domestic producers and industries in the importing country and can also be seen as an unfair trade practice. It is often subject to anti-dumping laws and regulations to protect domestic industries.
Read lesson note on Trade (WAEC)
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