If you’re a business that wants to stay in business, best stay away from unfair trade practices.
Unfair trade practices are illegal via Consumer Protection Law in the U.S. Unfair trade practice is a term that covers a whole slew of unethical business practices, to the detriment of consumers: false advertising, fake raffles, deceptive pricing (looking at you, Overstock), and skirting around manufacturing and safety standards. Or any standards, really.
Insurance companies, landlords, and lenders are all subject to getting in trouble with Consumer Protection Law too via unfair trade practices...any deception in the marketplace is game for a class action lawsuit. You. Don't. Want. This.
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Cost Accounting: What is Dumping?0 Views
And finance Allah Shmoop What is dumping up Oh well
yeah I guess it's like that And you might recognize
this excellent scene directed by Bob Zemeckis It won the
porcelain pony on Yeah if you never saw it or
need a refresher What is predatory pricing Well basically it's
the act of selling of a product at a price
below production cost with the intent to bankrupt competitors so
that when they're gone while the Predator can swoop in
and charge whatever pricing they want while similar to predatory
pricing dumping is the export of product from one country
to another at a price below the price at which
it sells that product domestically Alright extreme Somalia finally gets
its act together as a country and instead of spending
efforts on pirating and assisted genocide they decide to make
cars and waited diversify their guys They're funded by pirates
Are us the most profitable bank on earth and they
make trucks You know the kind You always see terrorists
CNN shots of you know huge dance bumps and scratches
but the trucks keep running just fine like even on
three wheels So Somalia makes trucks just like this and
dumps them in the U S for ten grand each
Well after five years of this dump for GM and
Toyota the Big Three truck makers are all dead Nobody
wants to pay three times what the terrorist warlord model
costs in order to buy a truck that's American made
when those Big Three or gone Somalia then raises prices
above where they were AII instead of their truck selling
for ten grand they now sell him for forty grand
reaping huge rewards So you'd ask yourself Is this bad
Is this illegal Is this even sustainable Like what if
they do dump for five years and lose billions Won't
new competition come in and destroy the company Consumers will
then have benefited from the low five year dumping prices
So it's free trade Why not let it be free
Well good questions to noodle on you know while you're 00:02:07.35 --> [endTime] dumping
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