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DUMPING: Selling the same good to a foreign country at a lower price, often below production cost, than that charged to the domestic buyers. Dumping usually occurs because -- (1) producers in one country are trying to stay competitive with producers in another country, (2) producers in one country are trying to eliminate the producers in another country and gain a larger share of the world market, (3) producers are trying to get rid of excess stuff that they can't sell in their own country, (4) producers can make more profit by dividing sales into domestic and foreign markets, then charging each market whatever price the buyers are willing to pay.
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PERFECT COMPETITION, CHARACTERISTICS The four key characteristics of perfect competition are: (1) a large number of small firms, (2) identical products sold by all firms, (3) perfect resource mobility or the freedom of entry into and exit out of the industry, and (4) perfect knowledge of prices and technology.
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time at a crowded estate auction wanting to buy either a dozen high trajectory optic orange golf balls or a large red and white striped beach towel. Be on the lookout for empty parking spaces that appear to be near the entrance to a store.
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The word "fiscal" is derived from a Latin word meaning "moneybag."
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"Aerodynamically, the bumblebee shouldn't be able to fly, but the bumblebee doesn't know it so it goes on flying anyway. " -- Mary Kay Ash, entrepreneur
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ICC
International Chamber of Commerce
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