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DUMPING: Selling the same good to a foreign country at a lower price, often below production cost, than that charged to the domestic buyers. Dumping usually occurs because -- (1) producers in one country are trying to stay competitive with producers in another country, (2) producers in one country are trying to eliminate the producers in another country and gain a larger share of the world market, (3) producers are trying to get rid of excess stuff that they can't sell in their own country, (4) producers can make more profit by dividing sales into domestic and foreign markets, then charging each market whatever price the buyers are willing to pay.
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PRODUCT LIFE CYCLE The different stages that a product traverses over the course of its life from initial availability (birth) to eventual unavailability (death). The key stages are development, introduction, growth, maturity, saturation, and decline. The product life cycle, represented by an S-shaped curve, is an adaptation of the biological life cycle and is common to the study of marketing. It is also important in the analysis of innovation and economic instability. In addition to biological growth, comparable S-shaped life cycles are found in short-run production of a firm, the growth of a person's income, the acquisition of knowledge, and the development of a civilization.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time at a going out of business sale trying to buy either a weathervane with a cow on top or a box of multi-colored, plastic paper clips. Be on the lookout for fairy dust that tastes like salt.
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Francis Bacon (1561-1626), a champion of the scientific method, died when he caught a severe cold while attempting to preserve a chicken by filling it with snow.
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"The only profit center is the customer." -- Peter Drucker, educator
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PPI
Producer Price Index
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