Question

Companies from Malaysia were accused of selling clear float glass, which is used in cars, to companies in India at incredibly low rates. These rates were considered unfair because the price was lower in the foreign market than it was in the domestic market. This practice is known as _______.

a. international marketing
b. cultural relativism
c. offshoring
d. dumping

Answer 1

This given practice that occurs where the products were sold at low prices in the foreign market is called dumping.

What is dumping in business?

This is a term that is made use of in international economics or international trade.

This practice takes place due to the fact that a nation goes to export products from another countries at a rate that is cheaper than what it is sold in the international market.

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