Asked by Adrian Prasad on Apr 28, 2024
Verified
Social dumping occurs when a foreign competitor is able to unfairly sell goods or services at a lower price than domestic producers because they are able to be more efficient.
Social Dumping
Practice where companies move production to countries with lower labor standards and wages, undermining workers' rights and conditions.
Domestic Producers
Companies that manufacture or produce goods and services within a country's borders.
- Grasp the concept of worldwide efforts to instigate fair trade, the significance of the World Trade Organization, and the dialogues about labor and environmental norms in trade contracts.
Verified Answer
ZK
Zybrea KnightMay 04, 2024
Final Answer :
False
Explanation :
Social dumping occurs when a foreign competitor is able to sell goods or services at a lower price than domestic producers by taking advantage of lower labor or environmental standards in their own country, not necessarily by being more efficient. This gives them an unfair competitive advantage.
Learning Objectives
- Grasp the concept of worldwide efforts to instigate fair trade, the significance of the World Trade Organization, and the dialogues about labor and environmental norms in trade contracts.
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