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The act of selling in a foreign market at a price lower than the cost...

Commerce
JAMB 2023

The act of selling in a foreign market at a price lower than the cost price is called

  • A. dumping
  • B. under sale
  • C. hedging
  • D. fair trading
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Correct Answer: Option A
Explanation

Dumping is considered a form of price discrimination. It occurs when a manufacturer lowers the price of an item entering a foreign market to a level that is less than the price paid by domestic customers in the originating country.

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts