Bound tariff: It represents the tariff ceiling that is committed. Once a tariff is bound, it cannot be increased over its ceiling.

Dumping: Dumping happens when a commodity is sold at a price less than its normal value at the foreign market. In other words, there is dumping when a commodity is exported with a price that is lower than its production cost.

Subsidies: Subsidies are usually classified under two groups: Export subsidies and domestic subsidies. Export subsidies are subsidies that are given to an exporting firm by the government. Domestic subsidies do not require a contingency on exportation.

Anti-dumping duty: A country exposed to dumping can charge an anti-dumping duty from the exporter country in order to compensate its loss.

Countervailing duty: A country that is exposed to an export subsidy can charge a countervailing duty from the exporter country in order to compensate its loss.

As also understood from the information given, the definitions in the options I, II and III are correct, so the correct answer is C. The definitions in the options IV and V are not correct because of the fact that a country exposed to dumping can charge an anti-dumping duty from the exporter country in order to compensate its loss and a country that is exposed to an export subsidy can charge a countervailing duty from the exporter country in order to compensate its loss.