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WAEC Commerce 1991 (August) Question 26

Question 26

Foreign Trade

The practice of selling goods in foreign markets at less than the cost price is known as

  1. A.fair trading
  2. B.over- invoicing
  3. C.smuggling
  4. D.hedging
  5. E.dumping
Show the answer and explanation

Answer: E (dumping)

Explanation

Dumping is selling goods abroad below cost (or below the home price).