Selling a Product in a Foreign Nation at a Price

question 10

Multiple Choice

Selling a product in a foreign nation at a price less than its cost of production is called

• A) dumping.
• B) net exporting.
• C) absolute advantage.
• D) infant-industry exploitation.

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Definitions:

Sensorimotor Stage

In Piaget’s theory, the stage (from birth to about 2 years of age) during which infants know the world mostly in terms of their sensory impressions and motor activities.

Concrete Operational

A stage in cognitive development, according to Piaget, where children aged about 7-12 years develop logical thinking but are still not capable of abstract thinking.

Motor Development

The process through which humans progress through a predictable set of movements and physical abilities throughout their lifespan.

Maturation

The process of development in which an individual reaches physical, cognitive, and emotional maturity.