When a firm or industry sells products on the world market at prices below the cost of production, this known as dumping.
An industry is a group of companies related by their primary business activities. There are dozens of industrial classifications in the modern economy. Industry classifications are usually grouped into larger categories called sectors.
Industries are usually classified according to the goods and services they produce. For example, the pizza industry includes all producers who produce pizza and sell it on the market. It is important to note that in order for a pizza maker to belong in the pizza industry, the products they make must be marketed.
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