Unfair Trade Practice

  

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

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And finance Allah Shmoop What is dumping up Oh well

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yeah I guess it's like that And you might recognize

00:11

this excellent scene directed by Bob Zemeckis It won the

00:14

porcelain pony on Yeah if you never saw it or

00:17

need a refresher What is predatory pricing Well basically it's

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the act of selling of a product at a price

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below production cost with the intent to bankrupt competitors so

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that when they're gone while the Predator can swoop in

00:31

and charge whatever pricing they want while similar to predatory

00:35

pricing dumping is the export of product from one country

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to another at a price below the price at which

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it sells that product domestically Alright extreme Somalia finally gets

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its act together as a country and instead of spending

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efforts on pirating and assisted genocide they decide to make

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cars and waited diversify their guys They're funded by pirates

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Are us the most profitable bank on earth and they

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make trucks You know the kind You always see terrorists

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CNN shots of you know huge dance bumps and scratches

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but the trucks keep running just fine like even on

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three wheels So Somalia makes trucks just like this and

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dumps them in the U S for ten grand each

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Well after five years of this dump for GM and

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Toyota the Big Three truck makers are all dead Nobody

01:24

wants to pay three times what the terrorist warlord model

01:28

costs in order to buy a truck that's American made

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when those Big Three or gone Somalia then raises prices

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above where they were AII instead of their truck selling

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for ten grand they now sell him for forty grand

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reaping huge rewards So you'd ask yourself Is this bad

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Is this illegal Is this even sustainable Like what if

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they do dump for five years and lose billions Won't

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new competition come in and destroy the company Consumers will

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then have benefited from the low five year dumping prices

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So it's free trade Why not let it be free

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Well good questions to noodle on you know while you're 00:02:07.35 --> [endTime] dumping

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