Dumping is selling goods in a foreign market at a price
Below what is sold at the home market
Above what is sold at the home market
Equal to what is sold at the home market
Equal to the cost of producing the goods
Correct answer is A
In international trade, dumping simply refers to a situation where a product is sold at a cheaper price to a foreign country (importing country), than in the domestic market that produced it (exporting country).
A country is allowed to import just 50,000 tonnes of rice annually. This describes
Devaluation
Tariff
Embargo
Quota
Correct answer is D
A quota is a government-imposed restriction that limits the quantity or the monetary value of goods that a country can import or export during a particular period.
A country should embark on development planning to ensure that
It becomes popular among the comity of nations
It also does what others are doing
Its scarce productive resources are efficiently utilized
The nation is able to contribute its own quota to international organizations
Correct answer is C
No explanation has been provided for this answer.
Expenditure on food takes a large proportion of the incomes of people in
Industrialized countries
Advanced countries
Developing countries
Capitalist countries
Correct answer is C
Option C is correct because developing countries depend mainly on imported finished goods, and taxes are being paid on these goods from the point of clearing at the port to the point of sales at shops.
Specific tax
Proportional tax
Regressive tax
Progressive tax
Correct answer is D
A progressive tax is a type of tax in which the tax rate increases as the taxable amount increases. This type of taxes imposes a greater percentage of taxation on higher income levels.