In a Newspaper Release, Corning Inc

question 68

Multiple Choice

In a newspaper release, Corning Inc. announced it had received a favourable ruling from China's Ministry of Commerce on allegations that it was selling its fibre more cheaply in China than in other countries. What was Corning falsely accused of?

• A)dumping
• B)offloading
• C)boycotting
• D)repatriating

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Definitions:

Public Good

Goods that are non-excludable and non-rivalrous, meaning that consumption by one individual does not reduce availability to others, and people cannot be prevented from using them.

Consumption

The act of using goods and services by households.

External Costs

Costs of economic activity not borne by the producer or consumer but by society, often not reflected in the price of goods or services.

Economic Efficiency

A situation where resources are allocated in a way that maximizes the production of goods and services at the lowest cost.