the practice of selling goods in foreign markets at a price lower than the cost price is?

Assessment: WAEC SSCE - Commerce - 2015 (Objective) Subject: Commerce

Question 1 Report

the practice of selling goods in foreign markets at a price lower than the cost price is?

Answer Details
The practice of selling goods in foreign markets at a price lower than the cost price is called "dumping." Dumping is an unfair trade practice that is often used to drive competitors out of business. It is considered illegal in many countries and is regulated by trade laws and regulations. The purpose of these laws is to protect domestic businesses from being harmed by the sale of goods at unfairly low prices.
Read lesson note on Purchase And Sale Of Goods In Home And Foreign Trade (WAEC)
Read lesson note on Commerce (JAMB)
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