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ANTIDUMPING DUTY: A tariff levied by an imported country (presumably) being the target of foreign dumping. Since dumping implies selling a good to a foreign country at a price below production cost, the antidumping duty is intended to offset the 'unfair' advantage that the foreign seller obtains by selling below cost. The antidumping duty raises the domestic price of the good to the level that the foreign producer would charged if true costs were considered.
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LAW OF COMPARATIVE ADVANTAGE A principle that states that every nation, worker, or production entity has a production activity that incurs a lower opportunity cost than that of another nation, worker, or production entity, which means that trade between the two can be beneficial to both if each specializes in the production of a good with lower relative opportunity cost. This law is most often studied in the confines of international trade, but it also applies to labor and other types of production.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time looking for a downtown retail store trying to buy either several magazines on home repairs or a remote controlled sports car with an air spoiler. Be on the lookout for small children selling products door-to-door.
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This isn't me! What am I?
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A half gallon milk jug holds about $50 in pennies.
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"If we all did the things we are capable of doing, we would literally astound ourselves." -- Thomas Edison
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APEC
Asia-Pacific Economic Co-operation
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