Selling a Product at a Price Below Its Cost Is

question 114

True/False

Selling a product at a price below its cost is known as dumping.

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Definitions:

Partnership

A form of business organization defined by the Uniform Partnership Act as “an association of two or more persons who carry on as co-owners of a business for profit.”

Strikebreaking

The act of using non-union workers to replace striking employees in order to keep an organization operational during a labor strike.

Productivity

The measure of efficiency in which goods and services are produced, often evaluated by the output per unit of input.