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‘Dumping’ is said to be a trade distortionary practice. Which of the following terms best explains/ explain the term ‘dumping’?

Current Affairs Act Ai

Options

It is said to occur when the price of a product is lower in the domestic market than that in the export market.

It is said to occur when the price of a product in the domestic market is higher than that in the export market.

It is said to occur when the price of a product is the same in domestic and export markets.

Both (B) and (C)