In the context of international economics, 'Dumping' is considered: MCQ with Answer and Explanation

In the context of international economics, 'Dumping' is considered:
A. A form of export promotion subsidy only
B. A tariff barrier
C. An unfair trade practice of selling below cost or domestic price in foreign markets
D. A fair trade practice
Answer: Option C
Solution (By JKSSB Mock Tests)
Dumping involves selling a product in a foreign market at a price lower than the domestic price or below the cost of production, often subject to anti-dumping duties.

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Practice More Economy Set 1 Questions

Question #1
The 'Goods and Services Tax' on cryptocurrency is:
A. 5%
B. 28%
C. 18%
D. 0%

Correct Answer: Option C


Explanation:
Cryptocurrency transactions are subject to 18% GST as financial services, though regulation is evolving.

This question belongs to: Economy GK Economy Set 1
Question #2
Fixed costs are costs that:
A. equal variable costs
B. are zero in the long run
C. remain constant irrespective of output in the short run
D. vary directly with output

Correct Answer: Option C


Explanation:
Fixed costs do not change with the level of output in the short run.

This question belongs to: Economy GK Economy Set 1
Question #3
The Narasimham Committee was associated with reforms in:
A. labour laws
B. taxation
C. agriculture
D. banking and financial sector

Correct Answer: Option D


Explanation:
The Narasimham Committee recommended banking and financial sector reforms.

This question belongs to: Economy GK Economy Set 1