3.7 HOW DOES THE UK TRADE WITH OTHER COUNTRIES?

Question 1

What is trade?

Answer 1

Buying and selling of resources, manufactured goods and services

Question 2

What are imports?

Answer 2

When a country buys raw materials, services and goods

Question 3

What are exports?

Answer 3

When a country sells raw materials, services and goods

Question 4

What is balance of trade?

Answer 4

The difference between the money earned by the country from its exports and the amount of money used on imports is called the balance of trades

Question 5

What is UK trade?

Answer 5

1. Helps business export and grows into global markets
2. It is the ninth largest economy in the world
3. Much of the trade is transported by sea.

Question 6

What is a port?

Answer 6

Location on the coast that provides the required facilities for ships to load and unload the goods

Question 7

A port must have the following:

Answer 7

1. Large area of sheltered water that is protected
2. Big space for loading and unloading purposes
3. Good transport lines
4. Labour forces to provide the loading and unloading services