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Dumping is selling goods in a foreign market at a price 

Economics
WAEC 2020

Dumping is selling goods in a foreign market at a price 

  • A. below what is sold at the home market
  • B. above what is sold at the home market.
  • C. equal to what is sold at the home market
  • D. equal to the cost of producing the goods
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Correct Answer: Option A
Explanation

In international trade, dumping simply refers to a situation where a product is sold at a cheaper price to a foreign country (importing country), than in the domestic market that produced it (exporting 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
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
WAEC offline past questions - with all answers and explanations in one app - Download for free
WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
WAEC offline past questions - with all answers and explanations in one app - Download for free
WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709