JAMB Economics 2022 Objective — Question 8
Question 8 of 40 from the Joint Admissions and Matriculation Board (JAMB) Economics 2022 Objective paper, with the correct answer and a full explanation.
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8. 'Dumping' in economic term means; selling goods in a foreign market
- A. (A) at a price below that received in the home marketCorrect
- B. (B) at a price higher than that received in home market
- C. (C) at a price equal to the cost price in the home market
- D. (D) at a price equal to the selling price in the home market
Explanation
Dumping is the act of selling a good at a cheaper price abroad than at home; such goods are usually of a lower standard.
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