The correct answer is D. All of the above.
Dumping is the practice of selling goods abroad at a price that is lower than the cost of production or below the price charged in the domestic market. It is often done to gain market share or to drive competitors out of business.
Dumping can be harmful to domestic industries and consumers. When foreign companies dump goods in a country, they can drive down prices and make it difficult for domestic companies to compete. This can lead to job losses and plant closures in the domestic industry.
Consumers may also be harmed by dumping. When goods are dumped, they are often sold at a lower price than the cost of production. This means that consumers may be getting a good deal, but it also means that the quality of the goods may be lower.
The General Agreement on Tariffs and Trade (GATT) is an international agreement that regulates trade between countries. GATT prohibits dumping, but there are some exceptions. For example, dumping is allowed if it is done to meet a short-term surge in demand or if it is done to dispose of surplus goods.
In conclusion, dumping is the practice of selling goods abroad at a price that is lower than the cost of production or below the price charged in the domestic market. It is often done to gain market share or to drive competitors out of business. Dumping can be harmful to domestic industries and consumers. GATT prohibits dumping, but there are some exceptions.